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Gaming Company The9 Is Buying 5,000 More Bitcoin Miners
The firm announced its pivot to mining in January.
Publicly traded Chinese gaming company The9 (NASDAQ: NCTY) has inked a deal to buy 5,000 more bitcoin (BTC) mining machines.
STORY CONTINUES BELOW
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- According to an announcement Friday, its subsidiary, NBTC Ltd., has signed an agreement with Shenzhen-based MicroBT to buy WhatsMiner machines within one year.
- The agreement covers the purchase of the M32 and M31S WhatsMiner models, with the first batch of 440 M32 machines bought today.
- The9 said plans to keep on buying different types of cryptocurrency mining machines going forward.
- In late January, the firm announced its pivot to bitcoin mining, saying it was buying 26,007 unnamed bitcoin ASIC machines, with most already deployed in China at the time of the announcement.
Read more: Gaming Company The9 Agrees to Buy 26,000 Bitcoin Mining Machines
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
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