NIP Group disclosed that its bitcoin mining operations produced 151.4 BTC during an initial operating period from September through November 2025. The company said that output represented roughly $14.2 million in revenue at current prices, and that its installed mining capacity has reached 9.66 EH/s with another 1.64 EH/s expected to come online later this month.
NIP Group's Rapid Expansion into Bitcoin Mining
NIP Group’s entry into mining began with an acquisition of on-rack capacity and quickly scaled through additional purchases and equity-financed deals. The company completed an initial purchase in July and expanded again in November, moving from a single purchase into a material second business line alongside gaming and entertainment.
- July acquisition: 3.11 EH/s of on-rack capacity from Fortune Peak and Apex Cyber Capital.
- November expansion: 8.19 EH/s acquired from Apex Cyber Capital, Prosperity Oak Holdings and Noveau Jumpstar.
- Installed and expected: 9.66 EH/s installed, plus 1.64 EH/s expected to come online, for about 11.3 EH/s total.
Financial Performance and Revenue
During the initial operating period from September through November 2025, NIP Group produced 151.4 BTC. The company stated that this production translated to roughly $14.2 million in revenue at current prices, underscoring that mining has already begun contributing to its reported results.
Ownership and Connections to Bitmain
The November transactions altered NIP Group’s shareholder base: Apex Cyber Capital held about 31.2% of the company, while Prosperity Oak Holdings controlled roughly 29.4%. Those ownership changes followed deals that involved entities sharing common ownership and personnel links back to Antalpha, Bitmain’s financing and treasury arm.
Specifically, Chiu Chang-Wei is named as sharing ownership ties with Fortune Peak and Prosperity Oak and serves as a director at Antalpha. After the July purchase, Simon Ming Yeung Tang, chief investment officer of Cango, was appointed to NIP Group’s board, further tying the company to a cluster of related mining actors.
Broader Implications for Bitcoin Mining
The transactions place NIP Group among a growing group of public and proprietary miners connected to Bitmain-aligned entities. Cango has disclosed roughly 50 EH/s of capacity, and when combined with NIP Group’s approaching 11 EH/s, known Bitmain-aligned operations exceed 60 EH/s in disclosed capacity.
Industry moves by other operators also illustrate a shift toward miners with privileged access to hardware. For example, Bitdeer increased realized hashrate through deployment of its SEALMINER machines, a detail that reflects a broader trend of proprietary hardware playing a larger role in aggregate hashrate growth; see reporting on mining in 2025 and Bitdeer deployment for related updates.
Why this matters
For individual miners in Russia, the story matters because it highlights how mining capacity can be expanded through on-rack purchases and equity-financed deals rather than large self-built data centers. That structure can concentrate access to energized hashrate and proprietary machines inside affiliated groups, which may affect competition for hosting, machine supply and financing.
At the same time, the immediate numbers reported by NIP Group—151.4 BTC produced and about 11.3 EH/s expected capacity—are concrete indicators of how quickly a public company can scale mining operations when it combines acquisitions with equity financing.
What to do?
- Track suppliers and hosting partners: verify whether providers have ties to larger proprietary operators and assess contractual terms for uptime and pricing.
- Monitor public disclosures: follow hashrate and production reports from companies like NIP Group and Cango to understand shifts in network concentration.
- Review financing and dilution risks: be aware that some capacity growth is funded via equity issuance, which can affect publicly listed operators’ capital structures.
- Check hardware access: if you depend on third-party procurement, confirm machine availability and delivery timelines given growing demand for proprietary models.
