The parent company of the esports organization Ninjas in Pyjamas, known as NIP Group Inc., has successfully mined approximately 151 Bitcoin, translating to a value of around $14.5 million over a three-month period. This significant achievement marks a pivotal moment for the firm as it continues to expand its cryptocurrency mining operations.
From September to November, NIP Group ramped up its mining capacity to an impressive 9.66 exahashes per second (EH/s), positioning itself among the top 20 public Bitcoin miners in the United States. This expansion is part of a broader strategy that the company announced back in July of last year, when it first revealed its intentions to enter the Bitcoin mining sector.
In November, NIP Group disclosed that it had bolstered its mining infrastructure by acquiring additional equipment that collectively provides a hash rate of 8.19 EH/s. This acquisition was financed through the issuance of over 314 million Class A ordinary shares. The current mining capacity of 9.66 EH/s places NIP Group as a leading player not only in the U.S. but also positions it as the largest Bitcoin miner in the Middle East and North Africa (MENA) region.
Hicham Chahine, Co-CEO of NIP Group, expressed optimism about the results, highlighting that the production figures indicate the company”s capability to effectively scale its mining operations and generate substantial Bitcoin yields. He emphasized that the mining venture serves as a complementary growth engine alongside their entertainment portfolio.
As the firm continues to navigate the intersection of digital assets, computational infrastructure, and gaming, Chahine mentioned the potential to diversify into artificial intelligence workloads as that market evolves. The immediate focus, however, remains on maximizing Bitcoin output and enhancing mining efficiency.
NIP Group has indicated that it will strategically sell Bitcoin based on favorable market conditions, with the proceeds earmarked for further expansion and operational costs. While primarily recognized as a digital entertainment entity, the company has established itself in high-stakes gaming arenas, competing in popular titles like Counter-Strike 2, Valorant, League of Legends, and Rocket League.
On the stock market, shares of NIP Group, traded under the symbol NIPG, remained stable around $1.10 as of this Thursday. Despite this stability, the stock has experienced a notable decline of nearly 54% over the past six months, according to data from Yahoo Finance. The ongoing Bitcoin mining operation signifies a strategic diversification aimed at enhancing the company”s overall value and market presence.
