NIP Group Buys Third Batch of Bitcoin Miners for 247M Shares, Targets 195 BTC Monthly

Ninjas in Pyjamas Group has acquired a third batch of Bitcoin miners in exchange for more than 247 million Class A ordinary shares, lifting its mining capacity to roughly 13.85 EH/s, founder and CEO Hicham Chahine told Decrypt. The esports company now targets about 195 Bitcoin a month, up 35 BTC from its prior goal of 160 BTC, or roughly $2.8 million at current prices. Chahine said he chose to expand while the market is "cooling" rather than when competition is higher, adding the facilities could pivot to artificial intelligence and high-performance computing if those workloads consistently beat mining returns. The stock, NIPG, has fallen 40.7% from $6.74 to $4 since the announcement last week, an all-time low, according to Yahoo Finance data. Bitcoin declined 2% to $79,820 over the same period.