NIP Group, the mum or dad firm of the long-running esports group model Ninjas in Pyjamas, is doubling down on Bitcoin, revealing plans to increase its mining operation.
In consequence, NIP Group hopes to leverage its mining rigs to supply 160 BTC a month, or over $16 million a month at present costs—up from its earlier goal of 60 BTC per 30 days.
The growth brings its whole mining capability to a hash fee of 11.3 EH/s, a unit of measurement for crypto mining—considerably up from 3.11 EH/s when it first established its Bitcoin mining operation in July. The transfer makes it roughly the Twelfth-largest publicly traded Bitcoin miner on this planet by hash fee, in accordance with BitcoinMiningStock information.
“We see this as a pure extension of the disciplines we’re already invested in, and [it] places us in an excellent higher place for cross-product integration,” Hicham Chahine, co-CEO of NIP Group, instructed Decrypt. “The inflow of Bitcoin into the corporate treasury will naturally lend to investments in AI computing, AI purposes inside gaming, our current fan loyalty platform and fan token DOJO, and different advancing applied sciences.”
NIP Group instructed Decrypt that its major focus is to extend its Bitcoin holdings and hash fee as a lot as doable. That mentioned, the agency plans to promote Bitcoin when it feels it’s “acceptable” contemplating the market circumstances, and can achieve this to cowl the prices of increasing the enterprise or the prices of the operation.
Its expanded capabilities come on account of the acquisition of an undefined variety of Bitcoin mining rigs with a mixed hash fee of roughly 8.19 EH/s. NIP Group acquired these rigs from sellers together with Apex Cyber Capital, Prosperity Oak Holdings, and Noveau Jumpstar, to whom the agency has collectively agreed to concern over 314 million Class A atypical shares. That transaction is about to shut in December.
NIP Group is a digital leisure firm largely identified for its esports and gaming ventures. Its esports group, Ninjas in Pyjamas, competes on the prime stage of Valorant, League of Legends, Rocket League, and different video games. The agency’s Counter-Strike: International Offensive group went on an 87-game win streak from 2012 to 2013, which is taken into account one of the vital revered data in esports.
The corporate went public final 12 months, debuting at $10 a share earlier than collapsing 75% to $2.43 by June of 2025. Its July adoption of Bitcoin mining didn’t assist pump the inventory both, falling 12% on the time to $2.13, in accordance with Yahoo Finance.
NIP Group has continued its decline, dropping over 5% on Tuesday to $1.61 a share. It’s now down over 87% from its all-time excessive.
