Brief: The9 Signed Legally Binding MoU On The Additional Purchase Of Bitcoin Mining Machines

The9

08/02/2021 08:37

Feb 8 (Reuters) - The9 Ltd  NCTY.O :
    * THE9 SIGNED LEGALLY BINDING MEMORANDUMS OF UNDERSTANDING
ON THE
ADDITIONAL PURCHASE OF BITCOIN MINING MACHINES
    * THE9 LTD- SIGNED 6 LEGALLY BINDING MOUS WITH 6 UNRELATED
BITCOIN
MINING MACHINE OWNERS TO PURCHASE BITCOIN MINING MACHINES
    * THE9 LTD - EXPECTS TO COMPLETE SIGNING OF DEFINITIVE
AGREEMENTS
WITHIN ONE MONTH AFTER SIGNING OF MOU
    * THE9 - CO WILL ISSUE APPROX 7.2 MILLION CLASS A ORDINARY
SHARES
TO SELLERS BASED ON SHARE PRICE OF $23.35 PRIOR TO MOUS, WITH A
LOCK UP PERIOD OF 6 MONTHS
    * THE9 -AFTER COMPLETION OF THESE PURCHASES, THE9 EXPECTED
TO OWN
36,496 BITCOIN MINING MACHINES, AND TOTAL HASH RATE WILL BE
UPGRADED TO ABOUT 800PH/S

Source text for Eikon:  ID:nPnc0Yr5Sa 
Further company coverage:  NCTY.O 

 ((Reuters.Briefs@thomsonreuters.com;))