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.
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