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.

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. The move makes it approximately the 12th-largest publicly traded Bitcoin miner in the world by hash rate, according to BitcoinMiningStock data.

“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,” Hicham Chahine, co-CEO of NIP Group, told Decrypt. “The influx of Bitcoin into the company treasury will naturally lend to investments in AI computing, AI applications within gaming, our existing fan loyalty platform and fan token DOJO, and other advancing technologies.”

NIP Group told Decrypt that its primary focus is to increase its Bitcoin holdings and hash rate as much as possible. That said, the firm plans to sell Bitcoin when it feels it is “appropriate” considering the market conditions, and will do so to cover the costs of expanding the business or the costs of the operation.

Bitcoin Crashes Under $100K for First Time Since May, Liquidations Hit $1.3 Billion

Its expanded capabilities come as a result of the acquisition of an undefined number of Bitcoin mining rigs with a combined hash rate of approximately 8.19 EH/s. NIP Group acquired these rigs from sellers including Apex Cyber Capital, Prosperity Oak Holdings, and Noveau Jumpstar, to whom the firm has collectively agreed to issue over 314 million Class A ordinary shares. That transaction is set to close in December.

NIP Group is a digital entertainment company mostly known for its esports and gaming ventures. Its esports team, Ninjas in Pyjamas, competes at the top level of Valorant, League of Legends, Rocket League, and other games. The firm’s Counter-Strike: Global Offensive team went on an 87-game win streak from 2012 to 2013, which is considered one of the most respected records in esports.

Gaming Giants Electronic Arts and Krafton Are Going Big on Generative AI

The company went public last year, debuting at $10 a share before collapsing 75% to $2.43 by June of 2025. Its July adoption of Bitcoin mining didn’t help pump the stock either, falling 12% at the time to $2.13, according to Yahoo Finance.

NIP Group has continued its decline, dropping over 5% on Tuesday to $1.61 a share. It is now down over 87% from its all-time high.