NIP Group Agrees to Buy Bitcoin Miners, Targets 13.85 EH/s Fleet

NIP Group Inc. plans to expand its Bitcoin (BTC) mining business by buying operating machines with company shares, a transaction that would raise its projected fleet capacity to 13.85 exahashes per second (EH/s). The proposed purchase covers equipment with 4.47 EH/s of computing power. EH/s measures the rate of computing work used in mining. The machines are running at hosting facilities, but the transaction has not closed. NIP, the Nasdaq-listed parent of esports brand Ninjas in Pyjamas, announced the agreement Oct. 20. Dated Sept. 24, the agreement calls for NIP to issue up to 247,091,740 Class A ordinary shares to the sellers. The 13.85 EH/s projection covers its fleet across three acquisitions, including this pending purchase.

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