The Company strengthens its Board with the appointment of two Directors.
ABU DHABI, United Arab Emirates, Sept. 09, 2025 — NIP Group Inc. (“NIPG” or the “Company”) (NASDAQ: NIPG), a prominent digital entertainment company, today announced the finalization of its previously disclosed acquisition of on-rack crypto mining machines (the “Products”) with an aggregate hash rate of 3.11 EH/s. The acquisition was made from Apex Cyber Capital Limited and Prosperity Oak Holdings Limited, to which Fortune Peak Limited had assigned all its rights, benefits, and obligations under the Agreement (as defined below) to complete the transaction (together, the “Sellers”).
In accordance with the definitive asset-purchase agreement (the “Agreement”) executed on July 1, 2025, the Company issued a total of 119,553,439 Class A ordinary shares to the Sellers as consideration for the Products. All closing conditions for the transaction (the “Transaction”) were fulfilled as per the Agreement, and the Transaction officially closed on September 5, 2025.
The Products, which offer data center capacity with a combined hash rate of 3.11 EH/s, are currently deployed for Bitcoin mining operations, with an anticipated production of approximately 60 Bitcoins per month. The Company intends to continue hosting the Products in their existing data centers and has established a dedicated digital computing division to manage the operations and maintenance of these machines following the closing. The successful completion of the Transaction is expected to further aid the Company’s expansion and growth within the crypto asset sector.
In conjunction with the completion of the Transaction, Simon Ming Yeung Tang and Kee Wee Kiang Kenneth have each been appointed as a director of the Company, effective immediately.
Hicham Chahine, Co-CEO of NIPG, commented, “The successful completion of this transaction signifies a pivotal milestone in our expansion into the crypto asset space and the establishment of our digital computing capabilities. These mining assets are now fully integrated into our operations, strategically positioning us to create additional value for our Company and stakeholders. Looking ahead, we foresee substantial opportunities to optimize performance, investigate capacity enhancements, and leverage this computing foundation to support emerging applications across AI and other compute-intensive sectors. We are also pleased to welcome two crypto-focused professionals to our Board, as we continue to build out our digital infrastructure and further strengthen our governance.”
Simon Ming Yeung Tang is an accomplished corporate finance professional boasting over 15 years of expertise across investment banking, corporate law, and senior finance leadership roles. He played a crucial role in the Cango transaction, which transitioned Cango into the bitcoin mining sector. Simon also served as CFO of two new economy companies in China’s Internet and new energy vehicle sectors. From 2010 to 2021, he was a part of the APAC TMT investment banking team at Credit Suisse, and prior to that, practiced as a corporate lawyer at Linklaters, qualified in both English and Hong Kong law. Simon holds a Bachelor of Arts in Jurisprudence from the University of Oxford.
Kee Wee Kiang Kenneth has been actively involved in the bitcoin mining industry since 2022, bringing investment and operational experience from multiple jurisdictions. He has played a significant role in scaling mining projects internationally and contributes hands-on expertise in digital asset infrastructure and global mining operations.
This acquisition follows the strategic relocation of NIPG’s global headquarters to Abu Dhabi, a move facilitated by a landmark multi-year agreement with the Abu Dhabi Investment Office (ADIO) announced in January. Under the terms of this agreement, NIPG gains access to both financial and non-financial growth opportunities over a four-year period. Throughout the agreement’s duration, NIPG is committed to contributing to local employment within the esports and gaming sector and enhancing its capacity across key business verticals in the region, including esports operations, creative studios, game publishing, events, and talent management.
About NIP Group
NIP Group (NASDAQ: NIPG) is a global digital entertainment company at the forefront of the gaming and esports evolution. With a diversified ecosystem that includes esports teams, arenas and events, content and influencer networks, game publishing, and hospitality, we engage hundreds of millions of fans and craft immersive entertainment experiences. Operating across Europe, the Middle East, Asia, and the Americas, we collaborate with leading gaming companies to push the boundaries of interactive entertainment and introduce gaming to new audiences worldwide.
Safe Harbor Statements
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NIP Group Inc.
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