Esports Giant Ninjas in Pyjamas Expands Bitcoin Operation, Aims to Mine $16M in BTC Monthly
NIP Group, the parent company of Ninjas in Pyjamas esports brand, is expanding its Bitcoin mining operations, aiming to produce 160 BTC monthly, valued at over $16 million at current prices. The company increased its mining capacity from 3.11 EH/s to 11.3 EH/s, becoming the 12th-largest publicly traded Bitcoin miner. NIP plans to use Bitcoin holdings to invest in AI, gaming applications, and its fan loyalty platform. The expansion involved acquiring mining rigs with an 8.19 EH/s hash rate from multiple sellers, in exchange for issuing 314 million shares. Despite these efforts, the company’s stock continues to decline, dropping over 87% from its all-time high.
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NIP Group Expands Bitcoin Mining Operations
NIP Group, the parent company of the long-running esports team brand Ninjas in Pyjamas, is doubling down on Bitcoin, revealing plans to expand its mining operation. As a result, NIP Group hopes to leverage its mining rigs to produce 160 BTC a month, or over $16 million a month at current prices—up from its previous target of 60 BTC per month.
Increased Mining Capacity and Industry Standing
The expansion brings its total mining capacity to a hash rate of 11.3 EH/s, a unit of measurement for crypto mining—significantly up from 3.11 EH/s when it first established its Bitcoin mining operation in July. This upgrade positions it as the 12th-largest publicly traded Bitcoin miner in the world by hash rate, according to BitcoinMiningStock data.
Strategic Vision and Cross-Product Integration
“We see this as a natural extension of the disciplines we’re already invested in, and [it] puts us in an even better position for cross-product integration,” said Hicham Chahine, co-CEO of NIP Group, in an interview with Decrypt. He added that the influx of Bitcoin into the company treasury will bolster investments in AI computing, AI applications within gaming, the existing fan loyalty platform and fan token DOJO, as well as other advancing technologies.
Bitcoin Selling and Business Strategy
NIP Group's primary focus is to increase its Bitcoin holdings and hash rate as much as possible. However, the company plans to sell Bitcoin when it finds market conditions "appropriate." The revenue will be used to cover the costs of expanding the business or operational expenses.
Mining Rig Acquisition and Share Issuance
The expanded mining operation was made possible through the acquisition of an unspecified number of Bitcoin mining rigs, with a combined hash rate of approximately 8.19 EH/s. NIP Group purchased the rigs from sellers including Apex Cyber Capital, Prosperity Oak Holdings, and Noveau Jumpstar, issuing over 314 million Class A ordinary shares as part of the transaction. This deal is expected to close in December.
NIP Group's Esports Legacy
NIP Group is a digital entertainment company primarily known for its achievements in esports and gaming. Its esports team, Ninjas in Pyjamas, competes in top-tier games such as Valorant, League of Legends, and Rocket League. Notably, its Counter-Strike: Global Offensive team achieved an 87-game win streak from 2012 to 2013, considered one of esports' most respected records.
Stock Performance and Market Reaction
The company went public last year, debuting at $10 per share before collapsing by 75% to $2.43 by June of 2025. Its pivot to Bitcoin mining in July failed to bolster the stock, which fell 12% to $2.13 at that time, according to Yahoo Finance. As of this Tuesday, the price has dropped further, declining by over 5% to $1.61 per share, now down more than 87% from its all-time high.