Gaming Company The9 Is Buying 5,000 More Bitcoin Miners

The Shanghai-based online game operator, The9 Limited, has revealed the company is planning to acquire 2,000 Canaan Avalonminers for over $6 million in a stock deal. The9’s binding memorandum of understanding (MOU) explains that the new units will give the company 0.1 exahash of bitcoin hashpower. On April 9, the publicly-listed gaming and internet company The9 Limited (Nasdaq: NCTY) revealed the firm’s intentions to acquire 2,000 bitcoin (BTC) miners. The new miners will give the company a total hashrate of approximately 100 PH/s or 0.1 exahash (EH/s) of processing power.....

During the first week of April, the publicly-listed gaming and internet company The9 Limited revealed its intentions to purchase 2,000 Avalonminers from the manufacturer Canaan. On Monday, The9 announced it has signed a hosting agreement with the Russian-based firm Bitriver as the company will leverage 15 megawatts (MW) of Bitriver’s capacity for two years. The9 Teams Up With the Bitcoin Mining Operation Bitriver The9 Limited (Nasdaq: NCTY) has explained its plans to collaborate with the bitcoin mining company from Moscow, Bitriver. As part of the agreement, both parties can extend....

The company says a "majority" of the ASICs are already deployed.

BitRiver utilizes only surplus hydroelectric power to operate its data centers in Russia and CIS countries. The9, a Chinese internet company listed on the Nasdaq, is moving forward with its cryptocurrency mining plans by signing a contract with a major Russian data center operator.The company announced Monday that it has signed a crypto mining hosting agreement with Russian crypto mining services provider BitRiver through its fully-owned subsidiary NBTC.As part of the agreement, BitRiver will reserve 15 megawatts (MW) of its electric capacity for The9's Bitcoin (BTC) mining machine....

What would you do with your money, buy bitcoins or buy miners? If you are considering buying miners, you have also probably thought about buying a mining contract. So, which of the three is best for you? This is not an easy question and is one that almost all Bitcoiner’s face. It depends on a lot of factors: how much you want to spend, where you live and what are your interests. So, let’s say you have $500 and we will compare options. Although mining is theoretically more profitable, there are several reasons why it may not be for you. Mining bitcoins is not the most difficult task, many....