View source for News/NIP Acquires Crypto Mining Machines

{{News
|seo_title=NIP Acquires Crypto Mining Machines
|seo_keywords=NIP
|image=Ninjasp.PNG
|tags=Ninjas in Pyjamas
|date=2025-09-09T16:30:11.000Z
|sources={{NewsSource
|source=Intrado Globenewswire
|url=https://www.globenewswire.com/news-release/2025/09/09/3146915/0/en/NIP-Group-Announces-Closing-of-Mining-Assets-Acquisition.html
|article=News/NIP Acquires Crypto Mining Machines
}}
|author=Andura
|category=Mergers and Acquisitions
|content=NIP Group Inc.has officially closed its acquisition of crypto mining machines with a combined hash rate of 3.11 EH/s, marking a significant step in the company’s expansion into digital assets.

The transaction, first announced in July, was completed on September 5, 2025, following the satisfaction of all closing conditions. Under the deal, [[Companies/Ninjas in Pyjamas|Ninjas in Pyjamas]] issued 119,553,439 Class A ordinary shares to Apex Cyber Capital Limited and Prosperity Oak Holdings Limited. Fortune Peak Limited, originally a party to the agreement, had previously assigned its rights, benefits, and obligations to the two sellers.

The newly acquired machines, already in operation at existing data centers, are projected to mine roughly 60 Bitcoins per month. NIPG has launched a digital computing division to oversee the operations and maintenance of the equipment.

Co-CEO Hicham Chahine described the acquisition as a foundational move:

"The completion of this transaction marks a key milestone in our expansion into the crypto asset space and the establishment of our digital computing capabilities. These mining assets are now fully integrated into our operations, positioning us well to create additional value for our Company and stakeholders. Over time, we see significant opportunities to optimize performance, explore capacity enhancements and leverage this computing foundation to support emerging applications across AI and other compute-intensive sectors. We are also pleased to welcome two crypto-focused professionals to our Board, as we build out our digital infrastructure and further strengthen our governance."


As part of the deal, two seasoned industry figures—Simon Ming Yeung Tang and Kee Wee Kiang Kenneth—have joined NIPG’s board of directors.

Simon Ming Yeung Tang brings over 15 years of corporate finance expertise, spanning investment banking, law, and senior finance roles. He previously held CFO positions in China’s Internet and new energy vehicle sectors and was instrumental in steering Cango into Bitcoin mining. Tang’s career also includes more than a decade with Credit Suisse’s APAC TMT investment banking team and earlier practice as a corporate lawyer at Linklaters. He holds a Bachelor of Arts in Jurisprudence from the University of Oxford.

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}}