Our goal is to build up cryptocurrencies mining machines for The9 that will contribute 8% to 10% of the global hash rate of Bitcoin, 10% of the global hash rate of Ethereum and 10% of the global hash rate of Grin and become one of the world’s largest cryptocurrencies mining companies in terms of hashrate. This will also speed up our other cryptocurrency related businesses.It has been 12 years since the birth of Bitcoin. We believe that cryptocurrencies will bring more convenience to our daily life,” said Mr. Jun Zhu, Chairman and CEO of The9.
If all of the warrants are exercised, The9 said it expects to raise
$34 million in either U.S dollars or cryptocurrencies and will set up a
wholly owned subsidiary, dubbed NBTC Limited, to spearhead the
new business.
I don’t see how that’ll get them anywhere near their stated goals.
Interesting. I love the ambition.
However, the mining industry generates around 8 billion in revenue anually, with Bitcoin and Ethereum having a large share in those 8 billion. So more investment is needed to get to the 10% mining power in Bitcoin and 10% mining power in Ethereum. For Grin the goal of 10% is realistic.
It is standard chainize manipulation when they already fill poket with Grin and nothing can help them they begin to cry out to find some noobs for pump on them. We get thru this on bitcoin too much it is noun as chinize pump when they try to take out from swamp by pushing own hair.
I wonder what you’d say about the prospects of this industry now. Cryptocurrency collapse this spring scared all the investors. I agree cryptocurrencies will bring more convenience to our daily life. But in parallel with this, they also carry many inconveniences. When buying bitcoin, we all understood the risk we were taking, but no one imagined it THAT way. For example, my ambitions have noticeably cooled down, and I look more like a frightened beginner looking for working schemes on Young and Thrifty now than a person who is ready to take risks further.
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