Why This Team of Ninjas Is Tripling Down on Mining Bitcoin
Summary
Ninjas in Pyjamas parent NIP Group acquired a third batch of Bitcoin miners, issuing more than 247 million Class A shares. The deal brings capacity to about 13.85 EH/s, with CEO Hicham Chahine estimating output of 195 Bitcoin monthly, up from the previous target of 160. He said the company bought during a market slowdown and aims to improve margins and profitability. Mining facilities could be repurposed for AI or high-performance computing if those workloads offer consistently better returns, though conversion would require work. NIP Group shares fell 40.7% to an all-time low after last week’s Bitcoin announcement, while Bitcoin declined 2%.
