NIP Group Shares Spike as Bitcoin Mining Deal Gets Equity Update
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.