NIP Group, the parent company of esports organization Ninjas in Pyjamas, announced plans to enter the Bitcoin mining sector through a significant investment in U.S.-based mining rigs and facilities.
The company will establish a new Digital Computing Division to oversee mining operations and expand its digital infrastructure business. The acquired facilities are expected to generate approximately 60 Bitcoins per month, supported by a combined hash rate of 3.11 EH/s.
At current market values, 60 Bitcoins are worth about $6.56 million, before accounting for operational costs such as electricity and rent. To fund the acquisition, NIP Group will issue nearly 120 million Class A shares to the sellers of the mining equipment and facilities.
In a statement, NIP Group CEO Hicham Chahine described the move as part of a broader strategy to surpass $1 billion in annual revenue. The company reported $85.7 million in revenue for 2024 but ended the year with a net loss of $12.7 million.