The9 [NASDAQ: NCTY] Inks Filecoin Mining Machine Purchase and Hosting Agreement

The9 Limited [NASDAQ: NCTY] disclosed that it has inked a buying and hosting deal for the acquisition of a Filecoin mining machine adding to nearly US$2 million with a Filecoin mining supplier. Earlier, NCTY has inked a deal of nearly US$10 million with a Filecoin mining machine vendor to buy Filecoin mining machines in February 2021.

This is another buying deal of The9 with the Filecoin mining machine vendor. This new buying deal will boost the efficient storing mining power of The9 in the Filecoin network, particularly in the initial stages of the quick growth trend of Filecoin.

Currently, The9 is the owner of an autonomous node on the Filecoin blockchain and 8 Pebibytes of efficient storage mining power in the Filecoin network. When the two deals are completely executed, NCTY is anticipated to have a total of higher than 80 Pebibytes of effective storage mining power in the Filecoin network.

Users will be able to utilize the predetermined economic stimulus mechanism to store data to guarantee that the files are stored and retrieved in a reliable manner for a long time. Shares of NCTY soared 5.86% as it gained +2.01 during the trading session of Monday.