NIP Group Inc., the parent of Ninjas in Pyjamas, mined about 151.4 BTC from September through November, roughly $14.5 million, the company stated. The firm said it began mining to build a second revenue stream alongside its esports business.
Capacity currently sits at 9.66 EH/s and is expected to reach about 11.3 EH/s later this month. The company updated its monthly production target to 140 BTC, roughly $13.5 million.
In November, NIP Group acquired rigs with a combined hash rate near 8.19 EH/s from sellers including Apex Cyber Capital, Prosperity Oak Holdings, and Noveau Jumpstar. The firm issued over 314 million Class A ordinary shares as part of those transactions.
Mining winners receive the block reward and fees for securing the Bitcoin network. (Ed. note: each block reward currently equals 3.125 BTC.)
NIP Group Co-CEO Hicham Chahine said, “These production results prove what we set out to demonstrate—that we can deploy mining infrastructure at scale and generate meaningful Bitcoin output.” He added, “With 9.66 EH/s now operational and the remainder closing soon, we’ve built a second growth engine that complements our entertainment portfolio.”
The company trades as NIPG on Nasdaq and its stock recently traded near $1.10, roughly flat that day but down about 54% over six months. The firm remains primarily a digital entertainment company known for competitive esports.
