China’s The9 crypto miner enters JV deal to build 200 MW of mining sites in Kazakhstan

By bne IntelIiNews August 23, 2021

Shanghai-based crypto mining company The9 has signed a joint venture deal for the development of cryptocurrency mining sites in Kazakhstan with a total capacity of 200 MW, Coindesk reported on August 20. 

The agreement was signed by the company’s NBTC subsidiary with Kazakhstan’s LGHSTR. The firm said NBTC was set to take priority in deploying cryptocurrency mining machines at developed sites. The9's subsidiary will own 51% of the joint venture along with controlling the board of directors. 

As much as 100 MW should be completed by end-2021 with the full capacity expected to be reached in 2022.

The sites could deploy more than 50,000 S19 Antminers and accommodate about 5EH/s of hash power. 

Earlier in August, The9 signed a joint venture agreement with Kazakh cryptocurrency mining firm KazDigital to build a crypto mining site in Kazakhstan.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

EU, Uzbekistan forge partnership aiming to pave way for critical raw material supplies

The European Union on April 5 signed a memorandum of understanding (MoU) with Uzbekistan ... more

Brand Finance releases ranking of Uzbekistan's Top 20 most valuable brands

London-headquartered brand valuation consultancy Brand Finance has released its latest list of the 20 most valuable domestic brands in Uzbekistan. Leading the pack is Uztelecom, with a brand ... more

Kazakhstan and Uzbekistan’s combined IT exports surpass $800mn

Kazakhstan and Uzbekistan’s combined IT exports surpassed $800mn in 2023. The Kazakh IT sector's export revenue jumped from $50mn in 2020 to over $500mn last year. Astana Hub was a major ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    8 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Don't mention the "D" word - Ukraine
    6 days ago
  4. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    3 days ago
  5. Europe unlikely to tackle Russian LNG imports anytime soon
    3 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    26 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    1 month ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    29 days ago
  5. Saudi Arabia to scale back plans for Neom city
    16 days ago

Reports

Dismiss