NIP Group appoints Carl Agren as director and COO of digital computing unit

ABU DHABI - NIP Group Inc. (NASDAQ:NIPG), a digital entertainment company with a market capitalization of $116 million and annual revenue of $85 million, has appointed Carl Agren as a company director and chief operating officer of its Digital Computing Division, effective immediately, the company announced in a press release Wednesday.

Agren, who will lead the company’s Bitcoin mining business from Abu Dhabi, previously served as CEO of Phoenix Technology where he led the company’s IPO in December 2023, raising approximately $370 million. He also co-founded G42 Cloud (now Core42), developing 100 MW of data center capacity for AI and high-performance computing. While NIPG shares have declined 69.8% year-to-date, InvestingPro analysis suggests the company is currently trading below its Fair Value.

In his new role, Agren will oversee the integration of Bitcoin mining operations that NIPG acquired in July and build capabilities to expand into high-performance computing applications and AI workloads.

"Carl’s appointment marks an important step in building our digital computing capabilities as we establish our new Abu Dhabi headquarters for this division," said Hicham Chahine, Co-CEO of NIPG.

Agren will be based in Abu Dhabi, leading the company’s new Digital Computing Division headquarters established through its partnership with Abu Dhabi Investment Office.

NIP Group describes itself as a global digital entertainment company with operations spanning esports teams, arenas, events, content networks, game publishing, and hospitality across Europe, the Middle East, Asia and the Americas. While currently unprofitable, InvestingPro data shows analysts expect the company to turn profitable this year. Discover more insights and 8 additional ProTips with an InvestingPro subscription.

In other recent news, NIP Group Inc. has completed its acquisition of crypto mining machines, adding a hash rate of 3.11 EH/s to its operations. The transaction involved issuing 119,553,439 Class A ordinary shares to sellers Apex Cyber Capital Limited and Prosperity Oak Holdings Limited. This acquisition, finalized on September 5, 2025, is expected to result in the production of approximately 60 Bitcoins per month. In a related development, NIP Group had previously announced a definitive agreement to purchase bitcoin mining equipment with the same hash rate, with the deal to be settled through the issuance of approximately 119.5 million Class A ordinary shares to Fortune Peak Limited and Apex Cyber Capital Limited.

Additionally, NIP Group has expanded its entertainment business by launching a new joint venture, NIP Culture & Entertainment (Beijing) Co., Ltd., to strengthen its live entertainment presence in China. The venture’s inaugural event, the 2025 Qianfan Music Season - Wonderland Music Festival, took place in Beijing, drawing over 70,000 attendees. This festival was highlighted as one of the largest single-site outdoor music festivals ever held in the city.

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