Esports Firm Ninjas in Pyjamas Boosts Bitcoin Mining Operation With Added Rigs

Ninjas in Bitcoin Mining

The Abu Dhabi-based company announced Tuesday that it has signed a definitive agreement to acquire operational bitcoin mining machines with a combined hashrate of approximately 4.47 EH/s. The acquisition, its third tranche of mining assets and first announced since 2025, would increase its total installed capacity to approximately 13.85 EH/s.

At full deployment, NIP Group expects its mining operations to generate approximately 195 BTC per month—currently about $16 million worth—although actual production will depend on factors including network difficulty, global hashrate, and operational conditions. That would put the company among the larger publicly traded bitcoin miners by computing capacity.

Under the agreement, NIP Group will issue up to 247.1 million Class A ordinary shares to the sellers in exchange for the mining equipment. The firm valued the deal at up to $27.3 million. The machines are already deployed and operational at hosting facilities, allowing the company to begin generating additional bitcoin immediately after the transaction closes.

The latest expansion builds on an aggressive push into cryptocurrency mining that began in July 2025, when NIP Group established an initial operation with approximately 3.11 EH/s of computing power.

By Nov. 2025, the company had announced plans to expand that capacity to 11.3 EH/s. The firm then said in Jan. 2026 that its bitcoin mining capacity sat at 9.66 EH/s, and that it had mined 151.4 BTC between Sept. and Nov. last year.

From Games to Bitcoin and Beyond

NIP Group, best known for its esports operations across competitive games including Counter-Strike 2 and League of Legends, has increasingly positioned bitcoin mining as a way to generate revenue and finance investments beyond gaming.

NIP Group Co-CEO Hicham Chahine told Decrypt in Nov. 2025 that the company intended to accumulate Bitcoin while selectively selling its holdings to fund operating expenses and business expansion. He also described plans to direct mining proceeds toward AI, gaming applications, and the company’s DOJO fan token ecosystem.

That broader strategy remains central to the latest acquisition, with management suggesting its growing computing footprint could eventually support AI and high-performance computing applications.

“We are rapidly executing on our digital infrastructure strategy with this third tranche of mining asset acquisitions,” Chahine said in Tuesday’s announcement.

The acquisition also highlights NIP Group’s reliance on equity issuance to finance its mining expansion, a strategy that allows the company to acquire equipment without an equivalent upfront cash expenditure, but can dilute existing shareholders. The agreement was dated Sept. 24 and remains subject to customary closing conditions. NIP Group expects the transaction to close within 10 business days after those conditions are satisfied.

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