NIP Group signs 4.47 EH/s deal; miner stocks fall — SkimNews
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- NIP Group announced a third on-rack asset purchase agreement on Tuesday to acquire about 4.47 EH/s of already-deployed Bitcoin mining hardware.
- NIP Group is expected to reach 13.85 EH/s across all three hardware tranches after the deal closes, with the acquired machines immediately boosting Bitcoin production.
- NIP Group ranks as the 16th-largest public Bitcoin miner with 3.11 EH/s in operating hashrate; Bitdeer ranks first with 79.9 EH/s.
- NIP Group’s stock fell 6.8% Wednesday to close at $6.10, extending its decline to 86% over the past year.
- TeraWulf, Core Scientific, Cipher Mining and IREN each lost about 12% as higher-than-expected inflation figures pressured Bitcoin miners and AI infrastructure companies during the U.S. market’s sharpest selloff since July.
Why it matters: Once closed, the third tranche is expected to raise NIP Group’s total hashrate to 13.85 EH/s from 3.11 EH/s currently operating and immediately add Bitcoin production. Shareholders saw a different result Wednesday: NIP closed at $6.10, down 6.8%, while TeraWulf, Core Scientific, Cipher Mining and IREN each lost about 12%.
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