UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of June 2021
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Commission File Number: 001-34238
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THE9 LIMITED
17 Floor, No. 130 Wu Song Road
Hong Kou District, Shanghai 200080
People’s Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):________________
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):________________
EXHIBIT INDEX
| Exhibit No. | Description | |
| 99.1 | Press Release - The9 Signed a Definitive Agreement to Acquire a Canadian Clean Energy Cryptocurrency Mining Facilities Company |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| THE9 LIMITED | |||
| By | : |
/s/ George Lai |
|
| Name: | : | George Lai | |
| Title: | : | Director and Chief Financial Officer | |
Date: June 7, 2021
Exhibit 99.1
The9 Signed a Definitive Agreement to Acquire a Canadian Clean Energy Cryptocurrency Mining Facilities Company
Shanghai, China, June 4, 2021
The9 Limited (Nasdaq: NCTY) (“The9”), an established Internet company, today announced that it signed a definitive agreement (the “Agreement”) to acquire Montcrypto Ltd. ("Montcrypto"), a Canadian company, to build a 20MW supply of electricity in Calgary, Canada. The carbon-neutral infrastructure of Montcrypto provides a greener and more environmentally friendly power supply to the cryptocurrency mining business of The9.
Montcrypto had signed natural gas procurement contracts with local oil extraction companies and plans to build carbon-neutral cryptocurrency mining facilities by using natural gas as the source of electricity power generation. According to the Agreement, The9 plans to invest a total of CAD7.6 million in Montcrypto in two phases to obtain the controlling stake in Montcrypto. Upon the completion of the two phases, the power capacity of the mining facilities will be 20MW, which can supply electricity to operate more than 6,000 S19j Antminers.
Reducing carbon emissions and achieving carbon neutrality have been the consensus among most governments and enterprises in the world. The9 also proactively promotes the implementation of carbon neutrality strategies among its supply and demand chain partners. Montcrypto has a complete solution for the use of clean energy, which can efficiently convert the byproduct natural gas from oil drilling into low-cost electricity, thereby supporting the construction of carbon-neutral cryptocurrency mining facilities.
Montcrypto will cooperate with oil companies in the Calgary area to deploy mobile and modular cryptocurrency mining facilities at the oil well sites, and convert natural gas through a series of processing procedures such as recovery, pretreatment, and energy conversion of the natural gas. This provides a stable supply of electricity for mass cryptocurrency mining machines.
According to the Agreement, The9 will pay hosting fee to Montcrypto at a rate of CAD0.037/kWh for a period of 5 years. When all the 20MW carbon-neutral mining facilities are put into use, the byproduct natural gas in the area will be reduced by approximately 53 million cubic meters every year, and the greenhouse gas emissions of 128,000 tons of carbon dioxide equivalent will be reduced.
The9 also announced the closing of the investment in Skychain Technologies Inc. ("Skychain"), a cryptocurrency mining facilities company listed in TSX Venture Exchange in Canada. The9’s investment in Skychain is for its expansion in the capacity from 20MW to 32MW. The expansion of the mining site is located in Birtle, Manitoba, Canada. Upon the completion of the expansion, The9 will deploy its cryptocurrency mining machines there.
Other than the investments in the construction of the two cryptocurrency mining facilities companies in Canada, The9 is also actively seeking for more efficient and environmentally friendly mining sites around the world for the deployment of its cryptocurrency mining machines.
About The9 Limited
The9 Limited (The9) is an Internet company based in China listed on Nasdaq in 2004. The9 aims to become a diversified high-tech Internet company.
For further information, please contact:
Ms. Connie Sun
Investor Relations Specialist
The9 Limited
Tel: +86-21-6108-6080
Email: IR@corp.the9.com
Website: https://www.the9.com/en