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A new cryptocurrency mining farm with a capacity of up to 100MW will be erected in Kazakhstan by Shanghai-based The9 Limited and Kazakhstan’s KazDigital.

NCTY, a Nasdaq-listed business, stated today that its 100 percent subsidiary NBTC had inked an agreement on investment conditions with KazDigital, a Kazakh company, to build a cryptocurrency mining farm in a joint venture.

Under the terms of the agreement, the intention is to construct a mining farm in Kazakhstan with a capacity of up to 100MW in the following phases: The first phase of 25 MW was finished on August 1 this year, and the remaining 75 MW will be completed quarterly through Q1 2022.

In this instance, KazDigital will be in charge of the Joint Undertaking’s future operations and management. In addition, Kazdigital will transport the first 1,000 mining devices to guarantee that all processes and operations run smoothly.

Cai ZhiFang as the CEO of NBTC Limited said:

  • We believe we should seize the unique opportunity of a rapidly changing mining environment to accelerate the layout and expand resources in the mine. In the near future, Ninetowns will continue to actively seek low-cost and green energy mines for digital currencies in various regions.
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