The9 to acquire Chia mining equipment for $5.7 million

Nasdaq-listed The9 Ltd has signed agreements to purchase Chia (XCH) mining devices and to lease cloud services from three different suppliers for a total of more than $5.7 million, according to company representatives.

Upon completion of the deal, The9 will gain approximately 130 pebibytes of disk space.

Chia cryptocurrency is built on the Proof-of-Space and Proof-of-Time consensus algorithms. At the time of writing, the total disk space it occupies exceeds 5,2 эксабайта.

Earlier in March, The9 increased its bitcoin mining capacity after purchasing equipment from MicroBT and Bitmain.

In the same month, the mining company signed an agreement to purchase and deploy Filecoin mining equipment at a cost of $2 million, bringing its data storage capacity to 80 pebibytes.

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