The The9 Memorandum of Understanding signed is legally binding for the purchase of Bitcoin mining machines

Shanghai, January 25, 2021 / PRNewswire / – The9 Limited (NASDAQ: NCTY) (“The9”), an established Internet company, announced today that it has signed five legal obligations memo Of understanding (together the “MOUs”) with five owners of Bitcoin mining machines for the purchase of Bitcoin mining machines by issuing ordinary A-type shares. Which constitute about 0.36% of the global cannabis rate of Bitcoin. Most of these mining machines have already been deployed in Xinjiang, Sichuan and Gansu B porcelain.

Under the MOUs, The9 will issue a certain amount of Class A ordinary shares to each owner of Bitcoin Mining Machinery in exchange for the transfer of Bitcoin Mining Machines and rights and related interests equal to The9. The9 Documented its wholly owned subsidiaries including NBTC Limited to own these mining machines.

The9 will select a third-party appraisal company that will conduct an examination and evaluation of the fair market price of Bitcoin mining machines. The parties expect to complete the signing of the final agreements and execute the transactions within one month after the signing of the amount agreements.

Today The9 also signed the final sharing and investment agreement with Mr. Jianping Kong, Former CEO and Co-Chairman of Canaan Inc. (Nasdaq: CAN, the first Bitcoin mining machine maker listed on Nasdaq) and the other partners, all of whom will assist The9 in developing a cryptocurrency mining business. , With the plan to establish cryptocurrency mining facilities around the world.

About The9 Limited

The9 Limited (The9) is an Internet company based in porcelain She joined NASDAQ in 2004. The9 aims to become a diverse high-tech Internet company.