According to Foresight News, digital entertainment company NIP Group Inc. (NASDAQ: NIPG) has announced the signing of a definitive asset purchase agreement to acquire rack-mounted cryptocurrency mining machines from Fortune Peak Limited and Apex Cyber Capital Limited. These machines, currently used for Bitcoin mining, are expected to generate Bitcoin mining revenue for the company once the acquisition is finalized.
To support this initiative, NIPG has established a dedicated digital computing division to manage the operations of the acquired products. The company plans to compensate the sellers by issuing approximately 119,553,439 shares of its Class A common stock.
The acquisition includes data center capacity with a total hash rate of 3.11 EH/s, currently utilized for Bitcoin mining. The expected monthly output is approximately 60 Bitcoins. The proposed transaction is anticipated to be completed by September 30, 2025.