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

NIP Group, the parent company of the esports brand Ninjas in Pyjamas, is significantly expanding its Bitcoin mining operation with a goal of producing $16 million in Bitcoin monthly. This move aims to increase its mining capacity from 60 Bitcoin to approximately 160 Bitcoin each month. The expansion will enhance their total mining capacity to a hash rate of 11.3 EH/s, a notable rise from the previous 3.11 EH/s when they began operations in July. The firm has contracted to acquire high-performing mining rigs from various sellers, which will bolster its abilities in the cryptocurrency sector. Despite this aggressive expansion, NIP Group's stock has seen a decline, dropping over 5% in recent days and standing at more than 87% below its all-time high. The company has emphasized that they plan to retain their Bitcoin earnings for operational costs and business expansion endeavors. The backdrop includes a drop in Bitcoin prices, currently fluctuating around $100,000, marking a significant downturn in the market.

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