The9 indicators inexperienced Bitcoin mining cope with Russian agency BitRiver
The9, a Chinese web firm listed on the Nasdaq, is transferring ahead with its cryptocurrency mining plans by signing a contract with a significant Russian crypto mining agency.
The firm announced Monday that it has signed a crypto mining internet hosting settlement with Russian crypto mining companies supplier BitRiver by its fully-owned subsidiary NBTC.
As a part of the settlement, BitRiver will reserve 15 megawatts (MW) of its electrical capability for The9’s Bitcoin (BTC) mining machine deployment for an preliminary time period of two years. After the contract expires, each events have the appropriate to mechanically lengthen their cooperation for another yr, the announcement notes.
As a part of the settlement, The9 will place a batch of Bitcoin miners at BitRiver’s information heart situated in Russia’s Republic of Buryatia, a spokesperson for BitRiver informed Cointelegraph. The9 is now anticipated to find out the precise quantity and kind of mining units that they plan to ship to BitRiver’s information heart. The facility has an preliminary whole energy capability of 100 MW, and is able to internet hosting greater than 33,000 mining units.
BitRiver is called the most important crypto mining colocation companies provider in Russia, offering internet hosting companies for large-scale crypto mining operations. The agency offers renewable vitality sources for crypto mining, solely utilizing surplus hydroelectric energy to function its information facilities in Russia and the Commonwealth of Independent States, that are confirmed by certificates from the International Renewable Energy Certificate Standard Foundation.
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The information comes as The9 continues to maneuver into the crypto mining enterprise after asserting plans to enter the business earlier this yr. The firm said in January that it signed partnerships with a number of traders together with crypto mining large Canaan.
In June, The9 reached a definitive settlement to amass Canadian crypto mining agency Montcrypto to construct a 20 MW provide of electrical energy in Calgary. The firm stated that Montcrypto offers a “greener and more environmentally friendly power supply” to The9’s mining enterprise with its carbon-neutral infrastructure.