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Esports Giant Ninjas in Pyjamas Expands Bitcoin Operation, Aims to Mine $16M in BTC Monthly

NIP Group, the parent company of esports brand Ninjas in Pyjamas, is set to expand its Bitcoin mining operation, aiming to produce around $16 million worth of Bitcoin each month. The firm plans to increase its mining capabilities, raising its production target from 60 Bitcoin to 160 Bitcoin monthly. This expansion will boost its hash rate capacity to 11.3 EH/s, significantly up from 3.11 EH/s when it initially started its Bitcoin operations in July. The growth will involve the acquisition of additional mining rigs from various sellers, and NIP Group intends to hold onto the Bitcoin generated, only selling when necessary to cover operational costs or further expansion. Despite these ambitious plans, NIPG stock has faced considerable declines, dropping over 5% recently and more than 87% from its all-time high. The price of Bitcoin has also experienced volatility, recently dipping below $100,000 before partially recovering. This strategy marks a significant pivot for NIP Group as it diversifies its operations beyond esports.

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Record $1.26B Outflow Hits BlackRock Bitcoin ETF as Bearish Options Cost Soars

BlackRock's Bitcoin ETF, IBIT, has encountered a monumental net outflow of $1.26 billion in November, marking the most significant withdrawal since its inception in January 2024. This outflow comes amidst a price decline of 16%, bringing the share price down to $52, a level not seen since

Mastercard Picks Polygon to Bring Verified Usernames to Self-Custody Wallets

Mastercard has announced its collaboration with Polygon to introduce a system allowing users to send cryptocurrencies using verified usernames instead of lengthy wallet addresses. This new feature, referred to as the Mastercard Crypto Credential, aims to enhance security and user-friendliness in crypto transactions. By utilizing the services of Mercuryo, a

Bitcoin Dominance is Bleeding With Price, But Market Observers Say Altcoin Season is on Hold

Bitcoin's recent decline in price and dominance rate indicates a broader market deleveraging rather than a straightforward rotation into altcoins. While Bitcoin has dropped nearly 16% this month, its dominance has slipped from 61.4% to 58.9%. Despite speculation about an upcoming 'altcoin season', many

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