NIP Group, the parent company of esports team Ninjas in Pyjamas, has acquired a third batch of Bitcoin miners in exchange for over 247 million Class A ordinary shares, expanding its mining operations significantly.
The acquisition brings NIP Group's total mining capacity to roughly 13.85 EH/s, positioning the company among the largest publicly listed Bitcoin miners globally. At current production levels, the company expects to mine approximately 195 Bitcoin per month, representing roughly $2.8 million in monthly revenue at current prices.
Founder and CEO Hicham Chahine said the company decided to expand mining capacity during a market "cooling" period rather than during competitive peaks. "That's real revenue, and it supports everything else we're building," Chahine told Decrypt, noting that mining had to justify its place within the company's broader strategy of improving margins and achieving profitability.
This latest expansion increases the company's mining target by 35 Bitcoin monthly compared to its previous goal of 160 Bitcoin per month established during last year's mining expansion.
Potential AI Infrastructure Pivot
Chahine indicated that NIP Group's mining facilities could be repurposed for artificial intelligence infrastructure if market conditions warrant. The company is evaluating whether AI and high-performance computing workloads could generate returns that consistently exceed Bitcoin mining operations.
"When those workloads clearly beat mining on returns, consistently and not just for a week or two, that's when we may move capacity," Chahine explained. He noted that while converting Bitcoin mining hardware to AI data centers would require significant work, the infrastructure surrounding the mining facilities already provides a solid foundation for such a transition.
NIP Group operates as a digital entertainment company known for esports ventures. Beyond Ninjas in Pyjamas, it fields professional esports teams competing in Counter-Strike 2, Valorant, League of Legends, and Rocket League.
