6-K
The9 LTD (NCTY)
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 January 2021
Commission File Number: 001-34238
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 Legally Binding Memorandum of Understanding on the Purchase of Bitcoin Mining Machines |
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: January 26, 2021
Exhibit 99.1
The9 SignedLegally Binding Memorandum of Understanding on the Purchase of Bitcoin
Mining Machines
SHANGHAI, Jan 25, 2021 - The9 Limited (Nasdaq: NCTY) (“The9”), an established Internet company, today announced that it signed five legally binding Memorandum of Understanding (collectively the “MOUs”) with five Bitcoin mining machine owners to purchase Bitcoin mining machines by the issuance of Class A ordinary shares. After the completion of the transaction, The9 is expected to own 26,007 Bitcoin mining machines, with a total hash rate of approximately 549PH/S, accounting for about 0.36% of the global hash rate of Bitcoin. Majority of these mining machines have already been deployed in Xinjiang, Sichuan and Gansu in China.
According to the MOUs, The9 will issue a certain amount of Class A ordinary shares to each Bitcoin mining machine owners in exchange for the transfer of the Bitcoin mining machines and related rights and interests of equal value to The9. The9 will designate its wholly-owned subsidiaries including NBTC Limited to own these mining machines.
The9 will designate a third-party valuation firm to conduct examination and assessment of the fair market price of the Bitcoin mining machines. The parties expect to complete the signing of the definitive agreements and execute the transactions within one month after the signing of the MOUs.
Today The9 also signed the definitive cooperation and investment agreement with Mr. Jianping Kong, the former Director and Co-Chairman of Canaan Inc. (Nasdaq: CAN, the first Bitcoin mining machine manufacturer listed on Nasdaq) and the other partners, who will all assist The9 for its development of cryptocurrencies mining business. NBTC Limited has just started to purchase Bitcoin mining machines, with the plan to establish cryptocurrencies mining machine facilities worldwide.
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