NIP Group to launch multi-million dollar Bitcoin Mining division in the United States

Per a press release posted yesterday, Ninjas in Pyjamas' parent company NIP Group (NIPG) are set to enter the world of Bitcoin mining with the purchase of multiple "Bitcoin mining rigs" and facilities from companies primarily based in the United States.

The decision to invest in the volatile world of Bitcoin mining is a major shift in focus for NIP Group with the esports and event production company set to open a new "Digital Computing Division" that is supposed to manage mining operations and other facets of NIPG's digital infrastructure business.

According to the press release, NIPG plan purchasing facilities capable of producing "approximately 60 Bitcoins per month" via a "combined hash rate of 3.11 EH/s." At the time of publication, 60 Bitcoins are worth around $6,558,615 USD before paying for power, rent, and other expenses that come with mining.

In order to pay for the acquisition of the mining facilities, NIPG are set to issue 119,553,439 Class A ordinary shares to the two companies selling the Bitcoin mining equipment and facilities.

According to NIP Group CEO Hicham Chahine, Nip Group's expansion into the world of Bitcoin Mining is part of a wider plan to grow NIPG's revenue in excess of $1B per year. In 2024, NIP Group closed with $85.7 million in revenue to end the year with a significant net loss of $12.7 million.

Chahine posted the following statement about the purchase on his LinkedIn account: