Crypto News Bulletin from seekingalpha

Monday February 22, 2021 10:54 AM
1 week 3 hours ago

The9 buys 70% stake in cryptocurrency cloud mining blockchain SaaS company, Interhash

The9 Limited (NCTY) has signed a legally binding MOU for 70% equity of Hangzhou SuanLi Technology (Interhash), a cryptocurrency cloud mining blockchain SaaS company.Interhash is a comprehensive platform that provides cryptocurrency mining-related management services to worldwide users.The purchase price is ~$7.0M, subject to due diligence and valuation to be conducted by an independent valuation firm.The9 will pay the consideration by issuance of Class A ordinary shares based on the closing market price of $82.89 prior to the signing of the MOU.Press Release