UK Discusses Creating Britcoin Its Own Central Bank-Backed Cryptocurrency
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The9 Restricted is bucking the crypto trends nowadays thanks to a new acquisition. 20-megawatt (MW) electricity-generation plant in Calgary, Canada. The diversified online firm and cryptocurrency miner announced nowadays that it acquired Canada-primarily based Montcrypto Ltd. But even with Bitcoin, Ether (CRYPTO:ETH), and Dogecoin (CRYPTO:DOGE) all down about 3.5% right now, investors are treating this news as a game changer for the firm. Cryptocurrency mining has come below scrutiny lately for the quantity of energy the servers need. Image supply: Getty Photos. In addition to the Montcrypto agreement, The9 also announced today it closed an investment in one more Canadian cryptocurrency mining facilities firm, which will expand capacity in Manitoba from 20 MW to 32 MW. Montcrypto had signed all-natural gas procurement contracts with local oil businesses and plans to create carbon-neutral cryptocurrency mining facilities by making use of all-natural gas, an oil extraction byproduct, as the fuel source. After full, the firm stated the 20 MW of electrical energy will be able to power more than 6,000 mining servers. Miners like The9 frequently trade with the price tag of Bitcoin and other currencies. The9 will invest a total of 7.6 million Canadian dollars ($6.3 million) in two phases to take a controlling stake in Montcrypto. The facility will assistance a much more carbon-neutral cryptocurrency mining operation. Although Bitcoin (CRYPTO:BTC) and other cryptocurrencies are moving decrease right now, shares of China-based cryptocurrency miner The9 Limited (NASDAQ:NCTY) have been soaring a lot more than 31% as of 2 p.m. The9 will deploy its mining machines there. Investors are nodding their approval of The9's expansion plans nowadays. Investors clearly like the truth that The9 is taking the initiative to create a much more sustainable mining operation.
