NIP Group Acquires More Bitcoin Mining Machines, Hashrate Reaches 13.85 EH/s

Odaily reports: Digital entertainment company NIP Group has completed its third batch of Bitcoin mining machine acquisitions, with consideration consisting of over 247 million Class A ordinary shares. The company stated that its current hashrate is approximately 13.85 EH/s, with an expected monthly output of about 195 BTC, worth roughly $2.8 million at the current price cited in the original article.Hicham Chahine, founder and CEO of NIP Group, said the company chose to ramp up Bitcoin mining when the market cooled and competition was lower. If returns from its AI and high-performance computing businesses continue to outpace mining, the company may redirect some of its hashrate toward those businesses. (Decrypt)