The9: Gains on deal to buy bitcoin mining machines

The9

09/04/2021 12:01

** U.S.-listed shares of Chinese gaming co  NCTY.O  rise as
much as 2.04% to $28.98 premarket 
    ** Co signs memorandum of understanding to purchase bitcoin
mining machines through the issuance of Class A ordinary shares
 urn:newsml:reuters.com:*:nPn1KnzyHa
    ** Co to issue ~8.13 mln Class A ordinary shares at $24.81,
with a lock-up period of 6 months
    ** The deal consists of 2,000 units of AvalonMiners, a
bitcoin mining machine, with a total hash rate of ~100PH/S (one
quadrillion hashes per second)
    ** Last month, NCTY rose ~5% on Filecoin mining machine
purchase deal  urn:newsml:reuters.com:*:nL4N2LS2M9
    ** Up to last close, stock up ~702% YTD

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com;))