SHANGHAI, Feb. 22, 2021 /PRNewswire/ -- The9 Limited
(Nasdaq: NCTY) ("The9"), an established Internet company, today
announced that it signed a legally binding memorandum of
understanding (the "MOU") on the Acquisition of 70% equity of
Hangzhou SuanLi Technology Co., Ltd. (hereinafter referred to as
"Interhash"), a cryptocurrency cloud mining blockchain
Software-as-a-Service ("SaaS") company. The acquisition
consideration is approximately US$7
million, subject to due diligence and valuation to be
conducted by an independent valuation firm. The9 will pay the
acquisition consideration by issuance of Class A ordinary shares
based on the closing market price of US$82.89 prior to the signing of the MOU.
Established in June 2019,
Interhash is a one-stop comprehensive platform that provides
cryptocurrency mining-related management services to worldwide
users. Users can place an order with one click to use the services,
which save the users from involving in the complicated process of
cryptocurrency mining including purchasing, installing and hosting
cryptocurrency mining mahcines. The team of Interhash are all
veterans who have been involved in the blockchain industry in the
early days, especially in the field of cryptocurrency mining, with
long time industry experience and resources. Interhash has managed
AvalonMiners, AntMiners, WhatsMiners, Ipollo miners and Ebit
miners for users. The cumulative Bitcoin hash rate under
Interhash's management is approximately 590PH/S. Utilizing the
team's long time experience and resources in the cryptocurrency
mining industrial chain, Interhash's goal is to become a leading
cryptocurrency cloud mining blockchain SaaS company.
The9's acquisition of Interhash is a strategic action to expand
its cryptocurrency mining business after the continuous purchase of
Bitcoin and other cryptocurrency mining machines for accumulating
cryptocurrency assets. The9's goal is to further provide
decentralized cryptocurrency cloud mining services to users on top
of its current centralized cryptocurrency mining business. Such
one-stop mining provides an easy entry point to worldwide users for
cryptocurrency cloud mining, and let the worldwide users share the
benefits from cryptocurrencies.
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