SHANGHAI, Feb. 16, 2021 /PRNewswire/ -- The9 Limited
(Nasdaq: NCTY) ("The9"), an established Internet company, today
announced that it signed a US$10
million framework agreement (the "Framework Agreement") with
a Filecoin (FIL) mining machine vendor to purchase Filecoin
mining machines by cash.
The9 had already purchased and deployed Filecoin mining
machines, and Filecoin mining has been started. Currently The9 owns
an independent node on Filecoin blockchain and 8 Pebibyte of
effective storage mining power in the Filecoin network.
The9 will continue to purchase Filecoin mining
machines under the Framework Agreement based on the trend of
Filecoin price and Filecoin's economic incentive model.
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.
About Filecoin (FIL)
Filecoin is an open source,
decentralized storage and digital payment system that enables users
to store data, with built-in economic incentives to ensure files
are stored reliably over time. Users pay to rent hard drive space
using the native cryptocurrency (FIL), and storage miners are
responsible for storing files and proving they have stored the
files correctly over time. Available storage, and the price of that
storage, is not controlled by any single company, instead Filecoin
facilitates open markets for storing and retrieving files that
anyone can participate in. Filecoin builds on top of the existing
IPFS (InterPlanetary File System) protocol, which has helped power
the distributed web. As of February
2021, the network has grown to over 2 Exabytes of storage
capacity. For more information, visit www.filecoin.io/.
View original
content:http://www.prnewswire.com/news-releases/the9-signed-a-us10-million-framework-agreement-on-the-purchase-of-filecoin-fil-mining-machines-301228133.html
SOURCE The9 Limited