Welcome to our dedicated page for The9 news (Ticker: NCTY), a resource for investors and traders seeking the latest updates and insights on The9 stock.
The9 Ltd (NASDAQ: NCTY) news hub provides investors with comprehensive updates on this diversified technology company's gaming operations, blockchain initiatives, and AI investments. Track official announcements across all business segments through verified press releases and curated financial news.
This resource delivers timely updates on strategic partnerships, cryptocurrency mining developments, and emerging technology ventures. Users will find earnings reports, joint venture announcements, and operational updates from The9's core divisions: online gaming licensing, blockchain-based mining operations, and AI-driven healthcare investments.
Bookmark this page for structured access to The9's corporate communications, including market expansion plans and technology deployment updates. Regular visitors gain insight into how the company balances its gaming heritage with cutting-edge innovations in decentralized finance and artificial intelligence applications.
The9 Limited (Nasdaq: NCTY), Polygon, and Protocol Labs are collaborating on The9's NFT platform, NFTSTAR, and GameFi projects. NFTSTAR, expected to launch in Q4 2021, will facilitate NFT trading and interactive experiences featuring licensed IP collections from global stars. Polygon will support the technical operations of both NFTSTAR and GameFi projects, while NFT collectibles will be stored on IPFS and Filecoin networks. The collaboration also aims to establish a GameFi fund for investment in promising projects, inviting other organizations to join this ecosystem.
The9 Limited (NCTY) has entered a non-binding investment memorandum with Kazakhstan's LGHSTR Ltd. to establish a joint venture in Kazakhstan. NBTC, a wholly-owned subsidiary of The9, will hold a 51% stake while LGHSTR will hold 49%. The joint venture aims to develop cryptocurrency mining sites with a capacity of 200MW over the next two years, beginning with a planned completion of 20MW by September 2021. The company expects to restore significant hash power and expand its mining operations globally, leveraging low-cost electricity sources.
The9 Limited (Nasdaq: NCTY) has announced a joint venture with KazDigital Ltd in Kazakhstan to create a cryptocurrency mining site with a capacity of 100MW. The9 will invest cash or mining machines, while KazDigital will contribute construction and infrastructure. The project will be completed in four stages, with the first 25MW finished as of August 1, 2021. The9 plans to send 1,000 mining machines to Kazakhstan for trial operations. Both companies will engage in due diligence within two months of signing the term sheet. This move aims to capitalize on the evolving cryptocurrency mining landscape.
The9 Limited (Nasdaq: NCTY), an established Internet company based in China, has entered into a cryptocurrency mining hosting agreement with BitRiver, a Russian company. This partnership aims to utilize 15MW of electric capacity for The9's Bitcoin mining machines at BitRiver's data center, which has a total power supply capacity of 100MW, capable of hosting over 33,000 mining machines. The initial agreement spans two years, with a potential one-year extension. The9 is committed to seeking low-cost, sustainable energy mining facilities to support its operations and those of its partners.
The9 Limited (Nasdaq: NCTY) announced Coinbase Custody, a subsidiary of Coinbase Global Inc. (Nasdaq: COIN), as the custodian for its digital assets, including Bitcoin. The initial deposit will consist of 200 Bitcoin into a segregated cold storage account, with plans for future deposits as The9 continues to mine cryptocurrencies. Coinbase Custody is recognized for its secure storage solutions and has never lost client funds. The9 will also utilize various cold wallets for additional asset storage.
The9 Limited (Nasdaq: NCTY) announced a definitive agreement to acquire Montcrypto Ltd., a Canadian company, for CAD 7.6 million. The acquisition aims to establish a 20MW carbon-neutral cryptocurrency mining facility in Calgary, which will utilize natural gas for electricity generation. This project is expected to support over 6,000 S19j Antminers while reducing annual greenhouse gas emissions by approximately 128,000 tons. Additionally, The9 is expanding its investment in Skychain Technologies in Manitoba to increase mining capacity from 20MW to 32MW.
The9 Limited (Nasdaq: NCTY) announced the signing of three agreements totaling over US$5.7 million for Chia (XCH) cryptocurrency mining machines and cloud services. With these contracts, The9 will acquire approximately 130 Pebibytes Netspace, contributing to the Chia cryptocurrency ecosystem. Chia uses a proof of space and time consensus algorithm, presenting itself as a more environmentally friendly alternative to Bitcoin. The9 has previously invested in Bitcoin and Filecoin mining and plans to continue exploring high-return cryptocurrency opportunities.
The9 Limited (Nasdaq: NCTY) has signed a legally binding term sheet to invest CAD4 million in Skychain Technologies Inc., a Canadian company. This investment will fund the construction of a 12 MW cryptocurrency mining facility in Birtle, Manitoba. The investment comprises a CAD2 million convertible note, maturing in four years, and a CAD2 million private placement, which includes common shares and warrants. Completion of the transaction is expected within a month, pending due diligence.
The9 Limited (Nasdaq: NCTY) has signed a binding Memorandum of Understanding (MOU) to acquire 2,000 Bitcoin mining machines, totaling approximately 100PH/S, through the issuance of Class A shares. About 8,127,390 shares will be issued based on a price of $24.81 prior to the MOU, with a 6-month lock-up period. Additionally, The9 has finalized agreements for 12,246 mining machines with a total hash rate of approximately 288PH/S, which will result in the issuance of 9,387,840 Class A shares, also with a 6-month lock-up. Valuation adjustments will apply based on market assessments.
The9 Limited (Nasdaq: NCTY) has announced an underwriting agreement with Maxim Group LLC for the purchase of 3,765,100 American depositary shares (ADSs) and warrants to buy an additional 2,823,825 ADSs at $33.20 each. The offering is expected to generate approximately $125 million in gross proceeds. The underwriters have a 45-day option to purchase up to an additional 564,765 ADSs. The transaction is set to close around April 5, 2021, subject to customary conditions. The offering is conducted under a shelf registration statement filed with the SEC.
