NIP Group expands bitcoin mining capacity to 11.3 EH/s

ABU DHABI - NIP Group Inc. (NASDAQ:NIPG) announced Monday an expansion of its Bitcoin mining operations, increasing its total mining capacity to approximately 11.3 EH/s through a new acquisition. The $186.67 million market cap company is making this move despite its stock trading at $1.58, down nearly 78% over the past year.

The digital entertainment company will acquire mining infrastructure with a combined hash rate of approximately 8.19 EH/s from sellers including Apex Cyber Capital Limited, Prosperity Oak Holdings Limited, and Noveau Jumpstar Limited. As consideration, NIPG will issue up to 314,515,762 Class A ordinary shares, with the transaction expected to close by December 15, 2025.

According to the company’s statement, the expanded operations are expected to generate approximately 160 Bitcoins per month, subject to global network hash rate fluctuations.

The expansion aligns with NIPG’s recently announced partnership with Abu Dhabi Investment Office, which supports the establishment of the division headquarters in Abu Dhabi.

"This transaction demonstrates the speed at which we are advancing our digital infrastructure strategy," said Hicham Chahine, Co-CEO of NIPG, in the press release.

The company positions this move as part of its strategy to build computing infrastructure that could support high-performance computing, crypto mining, and AI applications in gaming and entertainment.

NIPG describes itself as a global digital entertainment company with operations spanning esports teams, arenas and events, content networks, game publishing, and digital asset operations across Europe, the Middle East, Asia, and the Americas.

In other recent news, NIP Group Inc. has appointed Carl Agren as a director and chief operating officer of its Digital Computing Division. Agren will oversee the company’s Bitcoin mining business from Abu Dhabi. Previously, he served as CEO of Phoenix Technology, where he led the company through an IPO that raised about $370 million. Additionally, NIP Group has completed the acquisition of crypto mining machines with a total hash rate of 3.11 EH/s. This acquisition was made from Apex Cyber Capital Limited and Prosperity Oak Holdings Limited. The transaction involved the issuance of 119,553,439 Class A ordinary shares. The acquired machines are expected to produce approximately 60 Bitcoins per month. These developments mark significant steps in NIP Group’s expansion in the digital and crypto mining sectors.

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