The9 buys 26,007 ASIC miners. Shares jump 20%.

The Nasdaq-listed The9 Ltd purchased 26,007 Bitcoin mining machines, according to a пресс-релизе.

The company signed five memoranda of understanding, pursuant to which it will issue Class A shares to sellers of ASIC miners. Details about suppliers and device models were not disclosed.

According to the press release, most of the equipment has already been deployed in China’s Xinjiang, Sichuan and Gansu.

Former executive of Canaan Inc. Jianpin Kong will help The9 launch and maintain the mining operation with a total hashrate of about 549 PH/s, equal to roughly 0.36% of Bitcoin’s global hashrate.

On Monday, the Chinese internet company’s shares jumped 20% from Friday’s close, January 22. The chart below shows NCTY’s price rising from around $11.17 to $13.41 amid a surge in trading volume.

Данные: Yahoo Finance.

Earlier, on January 6, The9 announced entry into the mining industry. Within two days of the announcement, the company’s shares rose 140%.

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