NIP Group Co-CEO Says Third Bitcoin (BTC) Mining Tranche Has Closed

NIP Group Inc. co-CEO Hicham Chahine said Oct. 27 that the company completed its third Bitcoin (BTC) mining equipment purchase, taking its stated capacity to roughly 13.85 exahashes per second (EH/s). “Now that this tranche is closed, we're at roughly 13.85 EH/s,” Chahine said in an interview published Oct. 27. The agreement, dated Sept. 24, covers equipment rated at 4,468,708 terahashes per second, or about 4.47 EH/s, and calls for up to 247,091,740 Class A ordinary shares. NIP’s Oct. 20 announcement said the machines were deployed and operating at hosting facilities, while describing the transaction as subject to customary closing conditions. The update follows the proposed acquisition . NIP estimates its combined fleet across all three tranches could mine about 195 BTC per month at full deployment.

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