World Famous E-Sports Giant Announces It Will Enter Bitcoin Mining Industry! Here Are the Details

NIP Group, the umbrella company of the world-famous e-sports organization Ninjas in Pyjamas (NiP), announced that it has entered the Bitcoin mining industry. Esports Giant Ninjas in Pyjamas Gets Into Bitcoin Mining: Aims to Produce $6.5 Million in BTC Monthly The company aims to produce 60 BTC per month by purchasing a series of mining rigs with a total computational power of 3.11 EH/s (exahash/second), which corresponds to a production value of approximately $6.5 million at current prices. However, this production represents gross income; net income may differ once expenses such as electricity and operating costs are deducted. NIP Group has established a new unit to manage mining operations and make strategic decisions regarding the BTCs mined: Digital Computing Division. Although the company has not yet given details on how it will evaluate Bitcoins, this new division will also take responsibility for future mining investments. “We Are Not Just a Gaming Company Anymore” NIP Group co-founder and co-CEO Hicham Chahine said in a statement on LinkedIn that after the company went public last year, they wanted to create revenue models in areas other than esports and entertainment. Chahine emphasized that Bitcoin mining stands out as a “related and innovative” area and that they will continue to expand in this area. “We are no longer just a gaming company. We are transforming into a digital infrastructure company fit for the entertainment era,” Chahine said, noting that they are investing in real computing power and operational capacity. But investors don’t seem to have welcomed the decision so far. The company’s shares have fallen 17% since the announcement on Tuesday, falling to $2.13. They have fallen 88% since their peak of $17.76 in July 2024. NIP Group’s move sees institutional firms joining the trend of building bitcoin reserves, much like MicroStrategy’s pioneering model. Led by MicroStrategy founder Michael Saylor, the model has led to a 3,300% increase in the company’s stock, turning it into a major crypto asset investor. However, experts remind that this approach carries risks due to high volatility and that companies may have to sell BTC if they are in trouble. NIP Group’s new direction shows that gaming giants are now trying to grow not only through content production, but also through digital infrastructure and asset management. *This is not investment advice. Continue Reading: World Famous E-Sports Giant Announces It Will Enter Bitcoin Mining Industry! Here Are the Details

Source: BitcoinSistemi