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

Ninjas in Pyjamas' parent company NIP Group plans to significantly expand its Bitcoin mining operation, targeting approximately $16 million in Bitcoin earnings each month. Previously, the firm aimed for a monthly production of 60 BTC, but with the expansion, it now aims to mine 160 BTC monthly. The total mining capacity will increase to a hash rate of 11.3 EH/s, up from 3.11 EH/s when the operation began in July. The growth follows the acquisition of additional mining rigs from various sellers and is part of the company's strategy to hold onto its Bitcoin earnings, selling only to cover operational costs or fund further expansion. Despite these ambitious plans, NIPG stock has fallen sharply from its all-time highs, trading down 5% recently. Bitcoin's price has also been volatile, dipping below $100,000 for the first time in six months, impacting wider market sentiment. NIP Group's aggressive entry into Bitcoin mining reflects a broader trend among companies leveraging the profitability potential in the cryptocurrency sector.

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