Mergers & Acquisitions ·
NIP Group agrees to acquire 4.47 EH/s of Bitcoin mining capacity for up to 247M shares
NIPGNIP Group Inc.
NIP Group Inc. entered into a definitive on-rack sales and purchase agreement to acquire approximately 4.47 exahash per second (EH/s) of operational Bitcoin mining hardware from multiple sellers. The company will issue up to 247,091,740 Class A ordinary shares as consideration for the assets. Upon closing, NIP Group’s total installed hash rate is expected to reach approximately 13.85 EH/s across three tranches, with operations projected to generate roughly 195 Bitcoins per month at full deployment. The transaction closes within ten business days of satisfying customary conditions. NIP Group operates in the digital entertainment and Bitcoin mining sectors.