Chinese publisher of World of Warcraft will mine cryptocurrency
CONTENT

  • Chinese Online Games Publisher Targets Crypto Mining Market

  • The company intends to reach the level of 10% of the hashrate of the Bitcoin network

  • In exchange, the company promised to provide discounted shares

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Chinese company The9 announced plans to become the largest cryptocurrency miner in terms of hashrate

Chinese online games publisher The9 has partnered with cryptocurrency investors including Jianping Kong, the former head of Canaan. The company announced this on its official website..

Update. Amid news of The9 entering the cryptocurrency mining market, shares of the company (NCTY) jumped 87%.

Source: google.com

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As part of the collaboration, The9 will provide investors with 8,108,100 shares at a price of $ 0.1233 per share. In exchange for shares, investors pledge to provide their resources to help develop The9 in the cryptocurrency mining market.

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The9 is reportedly ready to accept Bitcoin investments instead of the US dollar.

Chinese publisher of World of Warcraft ...

“Our goal is to deploy mining farms for The9, which will account for 8% to 10% of the global Bitcoin hash, 10% of the Ethereum hash and 10% of the Grin hash …”, – the announcement says.

The9 thus plans to become “one of the world’s largest” cryptocurrency mining companies. Kong said that investors will facilitate the acquisition of mining equipment, including but not limited to miners AvalonMiners, AntMiners, WhatsMiners and Ipollo.

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The9 is a Chinese online gaming distributor. The company has published games in China such as: World of Warcraft, FIFA Online 2, Hellgate: London, Firefall and others.

BeInCrypto previously reported that shares of companies engaged in bitcoin mining soared up after the price of bitcoin exceeded the $ 28,000 level. Marathon shares soared by 28% to $ 14, but later dropped to $ 10.44.

Meanwhile, Nangeng Zhang, founder and head of Canaan Creative, believes that Russia is actively developing in the cryptocurrency mining market.

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In the long term, Russia could oust China, added Zhang.

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