SHANGHAI, Feb. 26, 2021 /PRNewswire/ -- The9 Limited
(Nasdaq: NCTY) ("The9"), an established Internet company, today
announced the appointment of Cai Zhifang as the Chief Executive
Officer of NBTC Limited (hereinafter referred to as "NBTC"), a
wholly-owned subsidiary of The9, to lead the development of
blockchain and cryptocurrency business in NBTC. Mr. Cai has been on
board.
Mr. Cai is an early pioneer in the blockchain industry. In 2013,
Mr. Cai co-founded YiBit Digital Technology Company Limited, one of
the earliest integrated platforms in blockchain industry in
China. In 2015, Mr. Cai served as the general manager of
WeiTui Technology Limited Company, which self-operated Bitcoin
mining by the purchase of AvalonMiners from Canaan. The peak
hash rate managed by Mr. Cai at that time accounted for nearly 4%
of the global hash rate of Bitcoin. Afterwards Mr. Cai
established a strategic partnership with Canaan, responsible for
assisting its customers in establishing, operating and maintaining
AvalonMiners. At that time Mr. Cai managed and operated more
than 300,000 AvalonMiners, with an accumulative hash rate exceeding
5,000 PH/S, accounted for nearly 5% of the global hash rate of
Bitcoin at that time.
After joining the NBTC team, Mr. Cai will be responsible for
leading the expansion of NBTC blockchain and cryptocurrency
business, making full use of his industry experience and resources
to formulate and execute NBTC's business strategy, and to implement
the cooperation between NBTC and worldwide cryptocurrency ecosystem
partners with the goal to accelerate the establishment of The9's
global leadership in the cryptocurrency industry.
In January this year, The9 announced the establishment of the
wholly-owned subsidiary NBTC to engage in blockchain and
cryptocurrency related businesses. Immediately within two months,
Bitcoin and Filecoin mining machines had been acquired as the first
step to build The9's cryptocurrencies mining business.
About The9 Limited
The9 Limited (The9) is an Internet company based in China listed on Nasdaq in 2004. The9 aims to
become a diversified high-tech Internet company.
Website: https://www.the9.com/en
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SOURCE The9 Limited