SHANGHAI, Feb. 22, 2021 /PRNewswire/ — The9 Restricted (Nasdaq: NCTY) (“The9”), a longtime Web firm, at this time introduced that it signed a legally binding memorandum of understanding (the “MOU”) on the Acquisition of 70% fairness of Hangzhou SuanLi Expertise Co., Ltd. (hereinafter known as “Interhash”), a cryptocurrency cloud mining blockchain Software program-as-a-Service (“SaaS”) firm. The acquisition consideration is roughly US$7 million, topic to due diligence and valuation to be performed by an unbiased valuation agency. The9 can pay the acquisition consideration by issuance of Class A peculiar shares based mostly on the closing market value of US$82.89 previous to the signing of the MOU.
Established in June 2019, Interhash is a one-stop complete platform that gives cryptocurrency mining-related administration providers to worldwide customers. Customers can place an order with one click on to make use of the providers, which save the customers from involving within the difficult means of cryptocurrency mining together with buying, putting in and internet hosting cryptocurrency mining mahcines. The group of Interhash are all veterans who’ve been concerned within the blockchain business within the early days, particularly within the discipline of cryptocurrency mining, with very long time business expertise and sources. Interhash has managed AvalonMiners, AntMiners, WhatsMiners, Ipollo miners and Ebit miners for customers. The cumulative Bitcoin hash price underneath Interhash’s administration is roughly 590PH/S. Using the group’s very long time expertise and sources within the cryptocurrency mining industrial chain, Interhash’s objective is to change into a number one cryptocurrency cloud mining blockchain SaaS firm.
The9’s acquisition of Interhash is a strategic motion to develop its cryptocurrency mining enterprise after the continual buy of Bitcoin and different cryptocurrency mining machines for accumulating cryptocurrency belongings. The9’s objective is to additional present decentralized cryptocurrency cloud mining providers to customers on prime of its present centralized cryptocurrency mining enterprise. Such one-stop mining offers a simple entry level to worldwide customers for cryptocurrency cloud mining, and let the worldwide customers share the advantages from cryptocurrencies.
About The9 Restricted
The9 Restricted (The9) is an Web firm based mostly in China listed on Nasdaq in 2004. The9 goals to change into a diversified high-tech Web firm.
Web site: https://www.the9.com/en
SOURCE The9 Restricted