The9 Limited (NCTY) is trading low on the charts today, down -1.85% to $11.16 at the start of the regular session. NCTY stock was trading down -5.72% to $10.72 in premarket trading. The9 stock fell -3.07% to close at $11.37 on Thursday. On the day, NCTY stock had a volume of 2.01 million shares, which was lower than the average volume of 2.74 million over the last three months. The NCTY stock fluctuated from $11.10 to $12.40 during the trading session. EPS ratio of 16.83 was recorded by NCTY.

During the previous five sessions, NCTY stock increased 20.70% in value, but fell -25.54% over the past month, with an annual gain of 221.19%. Currently, NCTY stock’s 50-day moving average stands at $13.06 below its 200-day moving average of $18.05. A RSI reading of 48.17 is observed for NCTY at the moment. The9 stock dropped in the absence of current news, so we can focus on recent developments to understand The9 more thoroughly.

How did things go at The9 recently?

The9 Limited, along with its subsidiaries, is a company involved in the Internet business in the People’s Republic of China. The primary goal of NCTY is to develop cryptocurrency mining businesses. As well as operating and developing proprietary or licensed online games, NCTY develops television games and mobile games.

Since February 2004, The9 has been known as The9 Limited, a change it made from its previous name, GameNow.net Limited. NCTY was founded in 1999 and has its headquarters in Shanghai, China. The9 strives to become a high-tech Internet company with a diversified product line.

Through its wholly-owned subsidiary NBTC Limited, The9 Limited announced this month that it has signed a cryptocurrency hosting agreement with Russian company BitRiver.

• Founded in 2017, BitRiver provides one-stop-shop, turnkey solutions for mining operations that require large amounts of cryptocurrency.
• BitRiver operates data centers using surplus hydroelectric power in order to offer hosting services in Russia and other countries to mine cryptocurrency.
• Currently, NCTY’s mining machines are set to be based in a data center with a power supply capacity of 100MW, which could allow it to host more than 33,000 mining machines.
• BitRiver will reserve 15MW of electric power for NCTY’s Bitcoin mining machine deployment under the agreement between the two parties.
• There is an initial 2-year term to the contract.
• Unless either party decides otherwise, both parties are automatically entitled to extend their cooperation for an additional year after the expiration.

NCTY’s plans moving forward:

The9 Limited (NCTY) plans to actively look for low-cost electricity mining facilities in different parts of the world that can produce sustainable energy. Furthermore, The9 plans to host mining facilities with companies that specialize in mining equipment for The9 and other clients by self-constructing the facilities and cooperating with these companies when deploying large-scale mining machines.