India, July 1 -- NIP Group Inc. (NIPG), a digital entertainment company, Tuesday said it has agreed to acquire crypto mining machines from Fortune Peak Limited and Apex Cyber Capital Limited.
The assets with a combined hash rate of 3.11 EH/s are expected to produce about 60 Bitcoins per month.
As per the deal, NIPG will issue 119.55 million Class A shares to the sellers. The company and the sellers will also enter into an investor rights agreement to define certain rights and obligations among them with respect to the company, NIP said in a statement.
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The deal is expected to close by September 30, 2025.
"Through this strategic move, NIP Group is not on...