The9 acquires 24,000 ASIC miners from Bitmain

The Nasdaq-listed company The9 Ltd has signed an agreement with Bitmain to purchase 24,000 Bitcoin miners of the Antminer S19j model. Deliveries are set to begin in November 2021.

Journalist Colin Wu says that such a quantity of Bitcoin miners cost the company about $200 million.

The Chinese gaming company Ninth City bought 24,000 Bitmain’s latest mining machines S19j, which may cost close to $200m. The mining machines will be delivered from November 2021. This shows that Chinese capital players are still optimistic about the trend of Bitcoin next year. pic.twitter.com/AVcQK6N8PN

— Wu Blockchain (@WuBlockchain) March 19, 2021

“This shows that Chinese capital market participants remain optimistic about Bitcoin’s trajectory next year,” the journalist wrote.

S19j is Bitmain’s latest model with a hash rate of 90 TH/s, introduced in February 2021. According to media reports from the company’s annual partner summit, the miner will cost buyers $8,370.

In early January The9 announced its entry into the mining industry. Within two days of the announcement, the company’s shares jumped 140%.

In late January The9 acquired 26,007 ASIC miners. Much of the equipment has already been deployed in Xinjiang, Sichuan and Gansu.

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