The9 makes additional purchase of bitcoin mining machines

The9 (NCTY) has signed six legally binding Memorandums of Understanding (MOUs) for the purchase of Bitcoin mining machines by issuance of Class A ordinary shares.This batch of machines includes different brands such as WhatsMiner, AntMiner and AvalonMiner, with a total number of 10,489 units and a total hash rate of ~251PH/S.According to the MOUs, The9 will issue ~7,178,160 Class A ordinary shares (equivalent to 239,272 ADSs) to the sellers with a lock up period of 6 months.Signing of agreements are expected to be completed within one month after the signing of the MOUs. The9 also completed agreements for the last batch of 26,007 Bitcoin mining machines and NCTY share price of $11.18 prior to the respective MOU signing date.The company will issue 26,838,360 Class A ordinary shares (894,612 ADSs), with a lock up period of 6 months. After the completion of these two purchases, The9 is expected to own 36,496 Bitcoin mining