TL;DR
- NIP Group mined 151 Bitcoin worth $14.5 million in three months.
- The company expanded its mining capacity to 9.66 exahashes per second.
- It ranks among the top 20 public Bitcoin miners in the United States.
The parent company of the esports team Ninjas in Pyjamas is expanding its Bitcoin mining operation. NIP Group Inc., which trades on the Nasdaq, announced the results of its first three months of activity. The firm mined approximately 151.4 Bitcoin between September and November. This volume is worth close to 14.5 million dollars.
The company revealed its plans to mine Bitcoin in July of last year. In November, it communicated the expansion of its fleet of specialized equipment. The current target is a monthly production of 140 Bitcoin, about 13.5 million dollars at current prices. Mining refers to the process of securing the Bitcoin network using high-powered computers.
Expansion of Mining Capacity
NIP Group increased its processing power, known as hash rate. In November, it acquired equipment with a combined capacity of 8.19 EH/s from several sellers. Payment was made through the issuance of over 314 million Class A ordinary shares.
The company’s current mining capacity is 9.66 EH/s. This figure places it among the top 20 public mining companies in the United States. It is also the largest in the Middle East and North Africa (MENA) region. The company expects to reach a total operating capacity of 11.3 EH/s by the end of this month.
Hicham Chahine, Co-CEO of NIP Group, commented on the results. He said the production data demonstrates they can deploy mining infrastructure at scale and generate substantial Bitcoin output. He stated they have built a second growth engine that complements their entertainment portfolio.
The company positions itself at the intersection of digital assets, computational infrastructure, and gaming. Chahine mentioned the optionality to expand into artificial intelligence workloads as that market develops. The current primary focus remains maximizing Bitcoin holdings and mining hash rate.
NIP Group indicated it will sell Bitcoin when market conditions are appropriate. The funds would cover expansion or operational costs. The firm is primarily a digital entertainment company known for its esports teams. Ninjas in Pyjamas competes at a high level in games like Counter-Strike 2, Valorant, League of Legends, and Rocket League.
The company’s stock, under the symbol NIPG, traded flat this Thursday around $1.10. However, the price has accumulated a drop of nearly 54% over the last six months, according to Yahoo Finance data. The mining operation represents a strategic diversification for the group.
