While public attention remains focused on large miners pivoting to AI, one of the fastest-growing Bitcoin mining operations has expanded quietly. NIP Group (NASDAQ: NIPG) reported producing 151.4 BTC between September and November 2025.
At current prices, that output represents roughly $14.2 million in revenue. During the same period, the company’s installed mining capacity reached 9.66 EH/s. An additional 1.64 EH/s is expected to be energized shortly. Once deployed, total capacity should reach approximately 11.3 EH/s.
Transition from Esports to Mining Infrastructure
NIP Group is best known as the parent company of esports brand Ninjas in Pyjamas. However, in mid-2025, the firm entered Bitcoin mining. In July, it agreed to acquire 3.11 EH/s of on-rack capacity from Fortune Peak and Apex Cyber Capital.
The deal closed in September and marked the launch of a dedicated digital computing segment. In November, the strategy expanded significantly. NIPG agreed to acquire another 8.19 EH/s from Apex Cyber Capital, Prosperity Oak Holdings, and Noveau Jumpstar.
The structure of these transactions stands out. Most of the consideration was settled through equity issuance and convertible instruments rather than traditional capital-intensive builds.
Ownership Links Point to Bitmain Ecosystem
Following the November deal, Apex Cyber Capital held roughly 31.2% of NIP Group. Prosperity Oak Holdings controlled about 29.4%. Both entities are linked to Chiu Chang-Wei, who also serves as a director at Antalpha, Bitmain’s financing arm.
Fortune Peak, which sold capacity to NIP Group, previously transferred mining assets to Cango. That company later became one of the largest proprietary Bitcoin miners. Notably, Cango’s chief investment officer joined NIP Group’s board after the initial transaction.
A Growing Proprietary Mining Bloc
Cango has disclosed around 50 EH/s of mining capacity. NIP Group is approaching 11 EH/s. Combined, Bitmain-aligned proprietary operations now exceed 60 EH/s.
As public miners face compressed hashprice and rising financing costs, vertically integrated players gain influence. Access to proprietary hardware and affiliated financing appears to be consolidating control over a growing share of global Bitcoin hashrate.