|Bid||40.45 x 900|
|Ask||40.60 x 800|
|Day's Range||31.38 - 46.14|
|52 Week Range||2.04 - 89.20|
|Beta (5Y Monthly)||1.35|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Jan 29, 2009|
|1y Target Est||N/A|
Cryptocurrencies are still floundering, but The9 has high hopes for the new head of its cryptocurrency business.
The9 Ltd. (Nasdaq: NCTY) a Shanghai-based online game operator, has signed a memorandum of understanding to acquire 70% equity in Hangzhou SuanLi Technology Co. Ltd. (Interhash), a cryptocurrency cloud mining blockchain software-as-a-service company for approximately $7 million. What Happened: Interhash was founded in 2019 and provides cryptocurrency mining-related management services to a global customer base. According to a statement released by the companies, Interhash has managed AvalonMiners, AntMiners, WhatsMiners, Ipollo miners and Ebit miners for users, and the cumulative Bitcoin hash rate under Interhash's management is approximately 590PH/S. What Happens Next: The9 is best known as the developer of games "CrossFire Mobile," "Audition," "Fashion Pop" and "Q Jiang San Guo." This month, it expanded its focus into the cryptocurrency realm, starting with its Feb. 5 announcement of the acquisition of Shenzhen MicroBT Electronics Technology Co. Ltd., a manufacturer of WhatsMiner bitcoin mining machines. “The9's acquisition of Interhash is a strategic action to expand its cryptocurrency mining business after the continuous purchase of Bitcoin and other cryptocurrency mining machines for accumulating cryptocurrency assets,” said the company in a press statement. “The9's goal is to further provide decentralized cryptocurrency cloud mining services to users on top of its current centralized cryptocurrency mining business. Such one-stop mining provides an easy entry point to worldwide users for cryptocurrency cloud mining, and let the worldwide users share the benefits from cryptocurrencies.” The9 might also be in the market for new acquisition following its recent announcement of a $100-million standby equity distribution agreement with Cayman Islands-based YA II PN Ltd. to fund its business growth. Photo by Eivind Pedersen/Pixabay. See more from BenzingaClick here for options trades from BenzingaActivist Investors Seek To Pack Kohl's Board Of DirectorsElectric Truck Maker Xos Going Public Via SPAC: What Investors Need To Know© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Bitcoin (CRYPTO: BTC) reached an unprecedented milestone for a cryptocurrency on Friday morning. According to Coinbase, Bitcoin is up around 5% over the past 24 hours, hitting all-time highs above $54,300.