Ninja in Pajamas Esports Corporation Recognized Purchase of Bitcoin Miners, Predicts Monthly Bitcoin Output of Approximately $6.5 million
In a recent move that mirrors the trend of public companies creating crypto-based treasuries and reserves, NIP Group, best known for its esports organisation Ninjas in Pyjamas, has entered the Bitcoin mining space. However, the company remains silent on its plans for the acquired Bitcoin.
NIP Group's foray into Bitcoin mining follows in the footsteps of companies like Cango Inc., Greenidge, and ZA Miner, who have all expanded their operations in this sector as part of their strategic diversification and growth strategies.
Cango Inc., for instance, entered the Bitcoin mining business in November 2024, expanding its operations across North America, the Middle East, South America, and East Africa. By June 2025, Cango had acquired additional mining machines, increasing its total hashrate to 50 EH/s. This move diversifies Cango's business portfolio beyond its traditional online used car export business.
Greenidge, while not a new entrant, continues to expand its Bitcoin mining operations, focusing on sustainability and renewable energy sources. The company operates a vertically integrated model, combining mining with power generation.
ZA Miner, on the other hand, offers cloud mining services, making Bitcoin mining more accessible to individuals. The company emphasises sustainability and efficiency through AI-driven hashrate systems, utilising remote clean energy data centers for stable mining operations.
The financial impact of these moves on companies' financial performance and stock prices can vary significantly. For NIP Group, as a newcomer to the Bitcoin mining sector, its financial performance in this area is still developing. The expansion into crypto mining is part of its broader strategy to diversify income streams, which could positively affect its financial stability and resilience.
NIP Group's stock has fallen 17% since the Tuesday announcement, according to TradingView, reflecting the market's response to this strategic shift. The company's stock is currently down 88% from its all-time high of $17.76, hit in July 2024.
While some experts have warned that the trend of firms creating crypto-based treasuries could result in disaster if firms are forced to sell, others, like Hicham Chahine, describe NIP Group as becoming a next-gen digital infrastructure company built for the entertainment era. The company has established a Digital Computing Division to manage its current and future Bitcoin mining operations, with the combined hashrate of the acquired Bitcoin mining rigs estimated at 3.11 EH/s.
NIP Group's founder and co-CEO, Hicham Chahine, has also stated that the company is exploring new revenue streams outside of esports and entertainment. The company estimates its Bitcoin mining operation will produce 60 BTC a month, worth approximately $6.5 million at current prices.
This strategic shift by NIP Group follows the lead of companies like Strategy, who, under the guidance of Michael Saylor, transformed from a business intelligence software solutions company to one of the most sought-after stocks on the market, with a surge of more than 3,300% from its first Bitcoin purchase. However, the success of NIP Group's foray into Bitcoin mining remains to be seen.
[1] EH/s stands for Exahash per second, a unit of measurement for the rate of computation in Bitcoin mining. [2] TradingView is a popular online platform for trading stocks and other financial instruments. [3] Pod X is a modular mining container used by Greenidge. [4] ZA Miner emphasises sustainability and efficiency through AI-driven hashrate systems. [5] The Bitcoin mining industry has become more professional and regulated, with increased barriers to entry, emphasising the need for efficiency, compliance, and sustainability.
- In the same vein as companies like Cango Inc., Greenidge, and ZA Miner, NIP Group's move into Bitcoin mining is a strategic diversification to expand their operations, as observed in the crypto-based treasuries and reserves trend within public companies.
- Similar to Cango Inc., with the acquisition of additional mining machines, NIP Group's Bitcoin mining operations could increase their total hashrate significantly, potentially diversifying their business portfolio beyond their esports organization.
- Like Greenidge, NIP Group might focus on sustainability and renewable energy sources in their Bitcoin mining operations, contributing to their vertical integration model.
- Following the trend set by ZA Miner, NIP Group could also offer cloud mining services, making Bitcoin mining more accessible to individuals, while maintaining a focus on sustainability and efficiency.
- As the Bitcoin mining industry grows more professional and regulated, Amy Group, a newcomer to the sector, must emphasize efficiency, compliance, and sustainability to succeed, much like other established players in the market.
