SHANGHAI, March 30, 2021 /PRNewswire/ -- The9 Limited
(Nasdaq: NCTY) ("The9"), an established Internet company, today
announced that it signed a Filecoin mining machine purchase
and hosting agreement amounting to approximately US$2 million with a Filecoin mining service
provider.
In February 2021, The9 signed a
US$10 million framework agreement
with a Filecoin mining machine vendor to purchase Filecoin
mining machines. This new purchase agreement The9 just signed is
with another Filecoin mining machine vendor. This new purchase
will increase the effective storage mining power of The9 in the
Filecoin network, especially in the current early stage of
Filecoin's rapid development trend.
At present, The9 owns an independent node on Filecoin blockchain
and 8 Pebibytes of effective storage mining power in the Filecoin
network. When the two agreements are fully implemented, The9 is
expected to have a total of more than 80 Pebibytes of effective
storage mining power in the Filecoin network.
Filecoin is an open source, distributed storage and digital
payment system. Users can use the preset economic incentive
mechanism to store data to ensure that files are stored and
accessed reliably for a long time. Users use the Filecoin (FIL) in
the system to rent hard drive space; and storage miners are
responsible for providing storage space to store files and proving
these files have been stored correctly.
Based on Filecoin's technology and the expected continuous
expansion of future application scenarios, as well as the recent
positive price trend of Filecoin, The9 decided to increase the
investment in Filecoin and the effective storage mining power in
the Filecoin network, to fulfill its growth strategy in the
cryptocurrency mining business.
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SOURCE The9 Limited