NIP Group edges up on expansion into bitcoin mining

NIP

01/07/2025 13:21

** E-sports company NIP Group's NIPG.O shares rise 1.6% to $2.49 premarket

** NIPG will buy crypto mining machines from Fortune Peak Limited and Apex Cyber Capital

** Mining machines expected to produce about 60 bitcoins per month

** NIPG will issue 119.6 million ordinary shares to the sellers as part of transaction, which is expected to close by Q3

** Co also establishes digital computing division as it expands into the digital infrastructure space

** NIPG went public in New York last year after $20.3 million IPO

** Lone analyst covering the stock rates NIPG "buy" and has $6 PT - data compiled by LSEG

** As of last close, NIPG stock down 62.8% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com))