Wednesday, May 25, 2022

The9 indicators inexperienced bitcoin mining cope with Russian firm BitRiver


The9, a Chinese language web firm listed on Nasdaq, is advancing its cryptocurrency mining plans by signing a cope with a significant Russian crypto mining firm.

The corporate introduced on Monday that it has signed a crypto mining internet hosting contract with Russian crypto mining service supplier BitRiver via its wholly owned subsidiary NBTC.

Beneath the settlement, BitRiver will reserve 15 megawatts (MW) of its electrical capability to be used by The9’s Bitcoin (BTC) mining machine for an preliminary time period of two years. After the contract expires, each events have the appropriate to routinely prolong their cooperation for an extra yr, in keeping with the announcement.

As a part of the deal, The9 will place numerous Bitcoin miners in BitRiver’s information middle within the Russian Republic of Buryatia, a BitRiver spokesman instructed Cointelegraph. The9 is now anticipated to find out the precise quantity and kind of mining units they need to ship to BitRiver’s information middle. The ability has an preliminary whole energy capability of 100 MW and might accommodate greater than 33,000 mining tools.

BitRiver is called the most important supplier of crypto mining colocation providers in Russia, offering internet hosting providers for giant scale crypto mining operations. The corporate offers renewable vitality sources for crypto mining and makes use of solely extra hydropower to function its information facilities in Russia and the Commonwealth of Impartial States, as evidenced by certificates from the Worldwide Renewable Power Certificates Customary Basis.

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The information comes as The9 strikes additional into the crypto mining enterprise after asserting plans to enter the trade earlier this yr. The corporate introduced in January that it had signed partnerships with a number of traders, together with crypto mining big Canaan.

In June, The9 reached a definitive settlement to accumulate Canadian crypto mining firm Montcrypto to construct a 20 MW energy provide in Calgary. The corporate mentioned that with its carbon impartial infrastructure, Montcrypto is offering a “greener, greener energy provide” for The9’s mining enterprise.