SHANGHAI, Might 14, 2021 /PRNewswire/ — The9 Restricted (Nasdaq: NCTY) (“The9”), a longtime Web firm, at the moment introduced that it signed three Chia (XCH) cryptocurrency mining machine buy and cloud service leasing agreements with three unrelated distributors, with the whole contract sum of greater than US$5.7 million. Upon the executions of those agreements, The9 goes to acquire roughly 130 Pebibytes Netspace, and to affix the ecological building of Chia cryptocurrency, also referred to as the “Inexperienced Bitcoin Various”. The9 had beforehand invested in Bitcoin and Filecoin mining machines. Chia is the third kind of cryptocurrency mining carried out by The9.
Chia was created by Bram Cohen, the inventor of BitTorrent and a community protocol engineer. It was developed via Chialisp, a robust, easy-to-audit and secured new clever transaction programming language. Not like Bitcoin, which makes use of proof of labor (POW), Chia makes use of proof of area and time (POST) consensus algorithm. Anybody can use the remaining exhausting disk area within the storage machine to confirm transactions with out the necessity of consuming loads of computing energy and electrical energy to take care of the Chia community. Subsequently Chia is taken into account to be a extra inexperienced and environmentally pleasant blockchain know-how. Chia’s principal community went dwell on March 19, 2021. On Might 4, 2021, Chia was opened for the alternate of its cryptocurrency XCH with different cryptocurrencies, and XCH is at the moment listed for buying and selling on exchanges equivalent to Huobi and OKEx.
The9 will proceed to spend money on blockchain growth and cryptocurrency mining enterprise. The9 plans to hunt for extra revolutionary and excessive return cryptocurrency mining targets.
About The9 Restricted
The9 Restricted (The9) is an Web firm based mostly in China listed on Nasdaq in 2004. The9 goals to turn into a diversified high-tech Web firm.
Web site: https://www.the9.com/en
SOURCE The9 Restricted