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 Limited (Nasdaq: NCTY) regularly issues news and regulatory updates covering its activities in online gaming, cryptocurrency mining, Web3.5 GameFi, and AI-driven drug discovery investment. Company announcements describe The9 as an established Internet company listed on Nasdaq since 2004, with operations that include online games operation, Bitcoin mining business, and backing of the9bit gaming platform and AI-focused investee Nanyang Biologics (NYB).
News about The9 often highlights online gaming developments, such as joint venture arrangements to operate proprietary mobile games like “Ultraman: Hero Beyond Time” and “Glory All Stars,” as well as changes to publishing agreements. Updates also cover milestones for the9bit, the company’s Web3.5 GameFi platform, including user growth achievements and details of campaigns and reward events designed to engage gamers and creators.
Another recurring theme in The9’s news flow is its digital asset and token ecosystem. Press releases discuss the $9BIT token whitepaper, The9’s allocation of 19% of the token supply for its contribution to the ecosystem, and efforts to bridge Web2 gaming with Web3 rewards. The company has also issued warnings about impersonation of the9bit on crypto platforms, advising users to rely on official communication channels.
Investors and followers of NCTY news can also find updates on AI-driven drug discovery investment through The9’s stake in NYB, including NYB’s business combination agreement with RF Acquisition Corp II aimed at a Nasdaq listing. In addition, corporate governance items such as annual general meeting notices and related shareholder information are frequently reported. This news page brings these various strands together so readers can monitor The9’s gaming, crypto mining, token, and AI investment activities in one place.
The9 Limited (Nasdaq: NCTY) has partnered with NFL star Christian McCaffrey through its NFT community platform, NFTSTAR. This exclusive agreement allows NFTSTAR to develop, sell, and trade NFT collections featuring McCaffrey's highlights. McCaffrey, a notable player with the Carolina Panthers, was previously the highest-paid running back in NFL history. NFTSTAR aims to integrate various superstar NFTs across fields, enhancing user experience by allowing general payment methods like credit cards for transactions.
NBTC Limited, a subsidiary of The9 (Nasdaq: NCTY), has partnered with Compute North to deploy over 32MW of capacity for 10,000 Bitmain S19j miners in the U.S., starting Q2 2022. An additional 14,000 miners will be hosted in Canada beginning December 2021. This expansion aims for a hash rate of 2,160PH/S, promoting efficient and eco-friendly mining solutions. Compute North's commitment to sustainability and power efficiency aligns with NBTC's strategic goals, enhancing cryptocurrency mining capabilities while supporting local power markets.
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.