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AI summary of a third-party reportBearishNewsDesk

NIP Group buys third Bitcoin miner batch for 247m shares, targets 195 BTC a month

The owner of esports team Ninjas in Pyjamas has paid more than 247 million Class A shares for a third batch of Bitcoin miners, lifting its capacity to about 13.85 EH/s.

Why it matters: NIP Group is tying its equity to Bitcoin mining at a time when the coin's price is falling, giving investors a listed proxy whose shares have already hit an all-time low.

InvestIn.News NewsDesk · 1 min read
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Picture from Decrypt for: NIP Group buys third Bitcoin miner batch for 247m shares, targets 195 BTC a month
Image: Decrypt
Original reporting: Ryan Gladwin, Decrypt

Key points

  • NIP Group says the new capacity supports output of roughly 195 Bitcoin a month, or $2.8m at the prices cited.
  • The deal was settled with over 247 million Class A ordinary shares rather than cash.
  • CEO Hicham Chahine says the facilities could move to AI and high-performance computing if those returns consistently beat mining.

NIP Group has acquired a third batch of Bitcoin miners, paying with more than 247 million Class A ordinary shares, Decrypt reports. The company, which owns the esports team Ninjas in Pyjamas, says the purchase takes its capacity to roughly 13.85 EH/s, enough to mine about 195 Bitcoin a month, or $2.8m at the prices cited.

Hicham Chahine, the founder and CEO, told Decrypt he wanted to commit to Bitcoin mining while the market is cooling rather than when competition is at its hottest. The new target of 195 Bitcoin a month is 35 higher than the 160 Bitcoin a month the company aimed for after expanding its operation last year. Chahine said the third batch will need minimal ramp time.

He also said the purchased facilities could be turned to artificial intelligence and high-performance computing work if those customers pay enough, commit for long enough and the demand proves lasting. Chahine said the company would move capacity only when those workloads consistently beat mining on returns, adding that the infrastructure around the mining sites is a good foundation for compute-heavy work.

Read the full story on Decrypt

Live updates on NewsFeeds:MiningAIDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)

How this was produced: an AI model wrote this summary of Decrypt’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.

Not investment advice. Read the risk disclaimer.

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