The Shanghai-based on-line recreation operator, The9 Restricted, has revealed the corporate is planning to accumulate 2,000 Canaan Avalonminers for over $6 million in a inventory deal. The9’s binding memorandum of understanding (MOU) explains that the brand new items will give the corporate 0.1 exahash of bitcoin hashpower.
On April 9, the publicly-listed gaming and web firm The9 Restricted (Nasdaq: NCTY) revealed the agency’s intentions to accumulate 2,000 bitcoin (BTC) miners. The brand new miners will give the corporate a complete hashrate of roughly 100 PH/s or 0.1 exahash (EH/s) of processing energy.
In accordance with the announcement, The9 entered right into a legally binding memorandum of understanding (MOU) with an “unrelated bitcoin mining machine proprietor.” The machines might be exchanged for Class A bizarre shares.
The9 mentioned that the agency will subject roughly 8,127,390 shares primarily based on the share worth of round $24.81. However through the subsequent six months, the variety of shares may very well be reassessed.
However the brand new MOU will not be the one deal The9 has established. The corporate additionally disclosed that it obtained 0.288 (EH/s) of hashpower. This deal happened when the corporate signed definitive agreements for 12,246 bitcoin mining rigs.
The announcement doesn’t disclose whether or not or not the 12,246 mining rigs are Canaan Avalonminer model miners. That particular deal was additionally accomplished with share calculations and an issuance settlement with a lock-up interval of six months.
The9 is a really well-known gaming and web agency and for a really very long time, The9 had an unique license to function and distribute the extraordinarily well-liked recreation World of Warcraft in China.
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