The9, a Chinese cryptocurrency miner, Forms a Joint Venture to Build a Cryptocurrency Mining Facility in Kazakhstan

Nasdaq-listed The9 has agreed to form a joint venture in Kazakhstan to build cryptocurrency mining facilities with a total capacity of 200 megawatts.

• On Friday, the Shanghai-based mining firm said that its NBTC subsidiary had inked a deal with Kazakhstan's LGHSTR.

• The deployment of cryptocurrency mining equipment at developed locations will be prioritized by NBTC.

• Up to 100MW of capacity should be finished by the end of this year, with the remaining capacity ready a year later in 2022.

• When finished, the sites will be able to host more than 50,000 S19 Antminers and 5EH/s of hash power.

• The9's subsidiary will control the board of directors and hold 51 percent of the joint venture.

• The9 and Kazakhstan cryptocurrency mining company KazDigital inked a joint venture agreement on August 4 to construct a crypto mining facility in Kazakhstan.