New York, June 3, 2026, 18:02 (EDT)
NIP Group Inc. ADSs climbed late Wednesday after the company said it completed another step in its bitcoin mining expansion. This latest deal relies more on issuing stock than using debt-like instruments. The U.S.-traded shares were last at $0.4178, up 5.3%, with about 181,000 shares moving.
Capital structure shifts with NIP’s new filing as the company pushes deeper into mining. NIP said a second closing wrapped up May 29, issuing 62.6 million Class A ordinary shares to sellers of mined assets. The January closing issued 167.9 million Class A shares. The last stage is also set to be in shares. Previously, convertible notes—debt that turns into stock—had been on the table.
That structure is cleaner. But it is not painless. More shares in the mix can dilute current holders, so each share ends up with a smaller piece of the company.
NIP’s timing looks off. Back in March, the company said it got a notice from Nasdaq after its ADSs stayed under the $1 minimum for 32 days in a row. NIP now faces a Sept. 21, 2026, deadline to get back in line by closing at $1 or higher for at least 10 straight trading days.
NIP Group’s stock is still trading well under the $9 per ADS it listed at in its July 2024 IPO. Each ADS at the time stood for two Class A ordinary shares.
NIP is working to shift from its esports and digital-entertainment business into bitcoin mining and infrastructure. In January, it said it mined 151.4 bitcoin between September and November 2025, and its installed mining power hit 9.66 EH/s, short for exahashes per second. Co-CEO Hicham Chahine at the time said they’ve “built a second growth engine.” Mining exec Carl Agren said focus is on “maintaining uptime and efficiency.” GlobeNewswire
NIP is now more in line with other public miners like MARA and Riot Platforms, but it’s starting from a different place. MARA slipped 2.2% most recently, while Riot gained 1.2%. Bitcoin traded 2.5% lower at $65,658, showing how fast the sector can shift.
Nasdaq Composite dropped 0.89% on Wednesday, not getting much lift from the rest of the market. Wall Street stepped back from its highs. Bill Northey at U.S. Bank Wealth Management told Reuters that how long the Strait of Hormuz could be closed matters for inflation forecasts. He said if the closure drags on, it’s less likely the Fed cuts rates in 2026.
NIP’s legacy entertainment segment still counts. For the first half of 2025, revenue was $61.2 million, a rise of 55.5% from a year earlier. Net loss also grew, landing at $136.3 million, mostly because of $125.9 million in non-cash goodwill and intangible-asset charges linked to Ninjas in Pyjamas.
Risk is still out there. The second amendment extended the mining-asset agreement’s long-stop date to July 31, 2026 and both sides dropped termination rights linked to the old March 31 cutoff. Funding the deal in shares keeps cash on hand and sidesteps note terms, but investors are left weighing dilution, where bitcoin trades, if the rest of the closing happens and what the Nasdaq bid-price problem means.
NIP got a lift Wednesday, but that’s just a start. Shares are still trading well under the $1 mark Nasdaq requires, and the company has to prove mining capacity can actually become cash flow. Until then, markets are seeing the pivot mainly as just another financing move.
