Shares of Nasdaq-listed The9 rose 14% today to $ 12.92.
A China-based Nasdaq-listed cryptocurrency company is the latest to head to Kazakhstan after cracking down on bitcoin mining in China.
() has signed a joint venture agreement with the Kazakh crypto miner KazDigital to build a 100 MW mining site in the country, where 1,000 mining machines are to be shipped there for trial operation.
KazDigital will be responsible for the operation and management of the joint venture after launch.
The large crypto mining machine manufacturer Canaan is setting up operations in Kazakhstan according to the procedure in China
Kazakhstan has become the preferred target of many China-based crypto miners who have recently seen restrictions on their activities as a result of crackdowns by provincial authorities there.
Canann Inc (NASDAQ: CAN), one of the world’s largest manufacturers of crypto mining machines, was recently founded in Kazakhstan, while BIT Mining (NYSE: BTCM) has moved nearly 3,000 mining machines from China to Kazakhstan.
The9’s shares rose 14% today to $ 12.92.