NIP Agrees to Buy Mining Equipment With 4.47 Exahash Capacity
Key Facts
NIP Group announced an agreement to buy bitcoin mining equipment with computing capacity of about 4.47 exahashes per second as part of its expansion in digital computing. In its deal announcement in October 2026, the company said it expected its total mining capacity to reach about 13.85 exahashes per second after the acquisition closes. The projected total includes equipment across all acquisition tranches, with the equipment covered by the new agreement forming part of this combined fleet. The group is headquartered in Abu Dhabi and has teams worldwide, according to its corporate announcement. Reaching the projected total capacity is contingent on completing the deal, through which the group is continuing to expand its cryptocurrency mining assets.
The group estimates that its combined fleet will produce about 195 bitcoin a month at full operation, according to its announcement of the new mining equipment acquisition. That compares with an earlier estimate of about 140 bitcoin a month upon full fleet deployment, which the company provided in its January 2026 operational update. The new estimate is linked to the bitcoin network's global hash rate, which the group listed among the factors affecting its expected bitcoin output. The company said production was also subject to "bitcoin mining difficulty adjustments and operational factors," alongside the network-wide hash rate. The targeted monthly output therefore remains contingent on full fleet operation and the factors the group identified in its estimate, including network conditions and equipment operation.
In exchange for the equipment, the group will issue the sellers up to 247,091,740 Class A ordinary shares, according to the announced deal terms. The purchase agreement filed with the U.S. Securities and Exchange Commission provides for each seller to receive 95% of the consideration shares due to them at closing. The denomination of the consideration in ordinary shares follows the group's announcement of a change to the ratio of American depositary receipts representing this class of shares. Under the change, effective from July 6, 2026, each American depositary receipt represents 60 Class A ordinary shares, according to the company's announcement. This ratio defines the relationship between the depositary receipts and the underlying shares, while the maximum consideration in the equipment purchase agreement is stated in ordinary shares.
The group previously closed its first acquisition of mining assets on September 5, 2025, according to its statement announcing the completion of that deal. It paid for the first acquisition by issuing 119,553,439 Class A ordinary shares, also using equity to buy assets for the business. During the initial operating period from September to November 2025, its mining operations produced about 151.4 bitcoin, according to the operating results announced by the group. In a subsequent update, the company said its operating capacity had reached 9.66 exahashes per second on January 15, 2026, documenting its operating level on that date. These milestones place the new acquisition in the context of an expansion that began with the purchase of mining assets, followed by the disclosure of actual production and operating capacity in the operational update.
To manage the acquired equipment, NIP established a dedicated digital computing division, according to its earlier announcement of its strategy to enter bitcoin mining. The group tasked the division with managing that equipment and developing its computing infrastructure capabilities as part of its stated approach to the business. The company linked its digital computing strategy to future opportunities in high-performance computing and AI-powered entertainment services, according to the same strategy announcement. On financing the expansion, the group also disclosed a change to the payment mechanism for the remaining closings of an earlier mining asset acquisition tranche. According to the filing with the U.S. Securities and Exchange Commission, the company replaced the convertible notes planned for those closings with Class A ordinary shares.
The next step for the new deal is governed by the terms of the equipment purchase agreement dated September 24, 2026, and filed with the U.S. Securities and Exchange Commission. The agreement provides for closing within 10 business days after its conditions have been satisfied or waived where legally permitted, unless the parties agree on another date. After closing, the agreement requires the sellers to deliver the defective equipment identified in an annex to the agreement to the purchasing company after repairing or replacing it. The agreement sets a deadline of 30 business days from closing for delivery of this repaired or replacement equipment as part of the sellers' performance obligations. Under this contractual sequence, the closing period begins after the conditions are met, while the delivery period for the equipment identified in the annex begins after closing.