The9 to acquire a Canadian clean energy cryptocurrency mining facilities

The9 (NCTY) inks agreement to acquire Montcrypto, a Canadian company, to build a 20MW supply of electricity in Calgary, Canada. According to the agreement, The9 plans to invest a total of C$7.6M in Montcrypto in two phases to obtain the controlling stake. Upon the completion of the phases, the power capacity of the mining facilities will be 20MW, which can supply electricity to operate more than 6,000 S19j Antminers.The9 will pay hosting fee to Montcrypto at a rate of C$0.037/kWh for a period of 5 years. When all the 20MW carbon-neutral mining facilities are put into use, the byproduct natural gas in the area will be reduced by ~53M cubic meters every year, and the greenhouse gas emissions of 128,000 tons of carbon dioxide equivalent will be reduced. Montcrypto will cooperate with oil companies in the Calgary area to deploy mobile and modular cryptocurrency mining facilities at the oil well sites,