Russia’s crypto mining hosting company BitRiver, that utilizes only surplus hydroelectric power to operate its data centres will be hosting The9 mining devices on its data centres for a period of 2 years.
The9, a Nasdaq-listed Chinese internet business, has signed a contract with a large Russian data centre operator to move forward with its cryptocurrency mining plans.
Through its wholly-owned subsidiary NBTC, the firm stated on Monday that it has struck a crypto-mining hosting deal with Russian crypto mining services provider BitRiver.
BitRiver will set aside 15 megawatts (MW) of its power capacity for The9’s Bitcoin (BTC) mining machine deployment for a two-year period as part of the deal.
Both parties have the option to automatically extend their cooperation for another year when the contract expires, according to the release.
According to a representative for BitRiver, The9 will install a batch of Bitcoin miners at BitRiver’s data centre in Russia’s Republic of Buryatia as part of the arrangement.
The9 is now required to figure out how many and what kind of mining devices they’ll ship to BitRiver’s data centre. The facility will have a total power capacity of 100 MW when it opens, and it will be able to house more than 33,000 mining machines.
BitRiver is Russia’s largest cryptocurrency mining colocation services provider, offering to host large-scale crypto mining operations.
The company uses surplus hydroelectric power only to run its data centres in Russia and the Commonwealth of Independent States, as evidenced by certificates from the International Renewable Energy Certificate Standard Foundation.
The announcement comes as The9 continues to expand its crypto mining operations after revealing ambitions to do so earlier this year.
In January, the startup announced collaborations with a number of investors, including crypto mining behemoth Canaan.
The9 and Montcrypto, a Canadian crypto mining company, inked a final agreement in June to develop a 20 MW power plant in Calgary.
Montcrypto’s carbon-neutral infrastructure, according to the company, delivers a “greener and more environmentally responsible power supply” to The9’s mining business.