NIP Group Expands Bitcoin Mining Operations With New Hardware

NIP Group, the conglomerate behind the esports team Ninjas in Pyjamas, has acquired a third batch of Bitcoin mining machines. The transaction involved the issuance of over 247 million Class A ordinary shares. With this move, the company has reached a capacity of 13.85 EH/s.

The company's current goal is to mine approximately 195 Bitcoin units per month. CEO Hicham Chahine stated that the objective is to take advantage of market cooling periods to expand infrastructure. Mining was kept in the portfolio following an internal review focused on margins and profitability.

The company is evaluating the possibility of converting part of its infrastructure for artificial intelligence processing in the future. According to management, the shift would only occur if the demand for high-performance computing offers consistently superior returns compared to mining. The conversion process would require significant technical adjustments to current facilities.

NIP Group shares have fallen 40.7% since the expansion announcement, hitting an all-time low. The price of Bitcoin also retreated 2% during the same analysis period. The market views the company's strategy as an attempt to diversify revenue in a highly volatile sector.