RTTNews | Jan 25, 2021 10:15AM EST

10:15 Monday, January 25, 2021 (RTTNews.com) - Shares of Shanghai-based online game operator The9 Limited (NCTY) are currently gaining about 25% after the company announced a deal to purchase bitcoin mining machines.

NCTY is currently trading at $13.96, up $2.78 or 24.87%, on the Nasdaq.

The9 announced that it signed five legally binding Memorandum of Understanding with five Bitcoin mining machine owners to purchase Bitcoin mining machines by the issuance of shares.

After the completion of the transaction, The9 is expected to own 26,007 Bitcoin mining machines, with a total hash rate of around 549PH/S.

Read the original article on RTTNews ( https://www.rttnews.com/3163005/stock-alert-the9-jumps-25-co-to-buy-bitcoin-mining-machines.aspx)

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