Ninjas in Pyjamas Group Acquires Third Batch of Bitcoin Miners

Ninjas in Pyjamas Group has acquired a third batch of Bitcoin miners for over 247 million Class A ordinary shares. CEO Hicham Chahine stated the company aims to invest in Bitcoin mining while the market is cooling, rather than during peak competition. The new facilities could also be repurposed for artificial intelligence in the future. With this acquisition, NIP Group's mining capacity reaches approximately 13.85 EH/s, allowing for the production of about 195 Bitcoin per month, generating around 2800000 dollars at current prices. This is an increase from the previous target of 160 Bitcoin per month. Chahine expressed optimism about the future of the operation, noting that the new miners will require minimal ramp time. NIP Group, known for its esports and gaming ventures, has seen its stock drop 40.7% from 6.74 dollars to 4 dollars since the Bitcoin announcement, marking an all-time low. Bitcoin has also decreased by 2% to 79820 dollars during the same period. Chahine mentioned that the mining facilities could pivot to AI infrastructure if market demand shifts, emphasizing the need for sustained demand before making such a transition.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.