The9
The9 is an online game developer and operator in China offering games for the web, social media, TV, and mobile platforms.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
| N/A | €0.0 | round | |
* | $8.0m | Private Placement non VC | |
| Total Funding | 000k | ||
| CNY | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | (76 %) | (98 %) | 83 % | 21623 % | (13 %) | 51 % | (38 %) |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | (715 %) | (34095 %) | (11857 %) | (196 %) | (388 %) | 17 % | (93 %) |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | (1245 %) | (52064 %) | 63612 % | (303 %) | (820 %) | 11 % | (66 %) |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| R&D % of revenue | 141 % | 3833 % | 390 % | 1 % | 2 % | 1 % | 1 % |
Source: Company filings or news article
The9 Limited, a publicly traded entity on Nasdaq under the ticker NCTY, has undergone a significant strategic transformation since its inception. Founded in 1999 by Jun Zhu, who serves as the Chairman and CEO, the Shanghai-based company initially established itself as a prominent online game operator in China. A notable milestone in its early history was securing the exclusive license to operate and distribute the highly popular game World of Warcraft in China, a partnership that cemented its position in the market before concluding in April 2009. The company began with a self-developed virtual community, the9 City, in 2000 and went on to obtain licenses for numerous MMORPGs, including Mu Online and Guild Wars.
Pivoting from its origins in the gaming industry, The9 has transitioned its core business to focus on the high-growth digital asset sector. The company is now primarily engaged in cryptocurrency mining operations, with facilities located in China, Eastern Europe, Asia, and North America. This strategic shift, initiated around 2021, involved substantial investments in Bitcoin mining machines to build a considerable hash rate. The company's revenue is now principally derived from its crypto mining business, where it provides computing power to mining pools in exchange for a share of the Bitcoin awards.
In addition to its cryptocurrency mining endeavors, The9 has expanded into the NFT space through its subsidiary, NFTSTAR Singapore Pte. Ltd. This subsidiary launched NFTSTAR, a trading and community platform designed for users to purchase, trade, and interact with NFT collections from licensed global stars, particularly from the sports and entertainment industries. The platform aims to facilitate mainstream adoption by accepting conventional payment methods like credit cards. More recently, The9 has ventured into Web3 gaming with the launch of the9bit, a gaming hub that integrates gameplay, creator rewards, and community spaces, signaling a continued engagement with blockchain-based entertainment.
Keywords: cryptocurrency mining, digital assets, online gaming, NFT marketplace, blockchain technology, Bitcoin mining, The9 Limited, NCTY, Jun Zhu, NFTSTAR, Web3 gaming, MMORPG operator, hash rate, digital collectibles, crypto investment, gaming platform, virtual community, game licensing, Shanghai, Nasdaq
