Ten billion shares. That is the new ceiling an esports company turned Bitcoin miner got approved on October 16, up from two billion. Four days later it agreed to hand over up to 247 million of them for mining rigs. Washington spent the same week making its first GENIUS Act stablecoin rule final.
NIP Group Agrees to Buy 4.47 EH/s of Bitcoin Miners, Paid in Stock
NIP Group Inc. (Nasdaq: NIPG) signed a definitive agreement to buy Bitcoin mining machines with about 4.47 exahash per second (EH/s), a measure of mining computing power, announced October 20. The rigs are already running at third-party hosting sites. Payment is up to 247,091,740 Class A ordinary shares. No cash changes hands.
If it closes, capacity across three acquisition tranches reaches about 13.85 EH/s. Management pegs that at roughly 195 BTC a month at full deployment, subject to network hashrate and difficulty. The agreement is dated September 24. Closing depends on customary conditions, and the company says it cannot assure the deal will complete.
The share count is the real number here. NIP Group last disclosed 427,860,564 Class A shares outstanding as of May 29, per a shareholder filing. The new issuance equals about 58% of that. That count also predates a remaining Tranche 2 closing the company said would be paid in Class A shares, so the current figure may be higher.
Shareholders had already made room. At an October 16 meeting they approved lifting authorized share capital from 2 billion shares to 10 billion.
Nasdaq flagged its American depositary shares in March for closing below $1. The fix was a July ratio change that worked like a 1-for-30 reverse split. Each American depositary share (ADS) now represents 60 Class A shares. Compliance came back July 21.
Co-CEO Hicham Chahine called the share-based structure disciplined and said the company will look at pointing the new capacity toward AI and high-performance computing.
OCC Finalizes GENIUS Act Stablecoin Rule, Effective January 18, 2027
The Office of the Comptroller of the Currency issued its final rule implementing the GENIUS Act on October 21. The Block reported it is the first federal regulator to finish its GENIUS rule. The rule sets reserve and redemption standards for stablecoin issuers under OCC oversight, foreign issuers included, plus some custody activity at OCC-supervised firms.
Rule and law both take effect January 18, 2027.
Anti-money laundering and sanctions requirements are left out. Those come in a separate rulemaking with Treasury.
Rewards are where the fight is. Issuers still cannot pay holders interest. The proposal had presumed some issuer deals with third parties were unlawful. The final rule drops that presumption for case-by-case review, an OCC official told reporters. Banks argue third-party rewards could pull deposits away from them.
Nobody can apply yet. The OCC says a separate release will announce when it starts taking applications and waiver requests.
NIPG, GENIUS Act: Forward-Looking FAQ
Roughly 63%, using the last disclosed count of 427.9 million. The new shares would be about 37% of the enlarged Class A total. Any Tranche 2 shares issued since May would shift that math.
No. The figure assumes all three tranches at full deployment. Closing depends on customary conditions the company has not itemized, and it gives no assurance the deal completes.
Unresolved. Direct issuer interest stays banned. Third-party arrangements get case-by-case review, and the OCC says it can act against evasion.
No date yet. The OCC will announce application timing in a separate release. The law takes effect January 18, 2027 regardless.
Sources
- SEC EDGAR / GlobeNewswire: NIP Group Expands Bitcoin Mining Capacity with Third Tranche Asset-Purchase Agreement, October 20, 2026
- GlobeNewswire: NIP Group Inc. Announces Results of Extraordinary General Meeting, October 16, 2026
- SEC EDGAR: Schedule 13D/A, NIP Group Inc. (427,860,564 Class A shares outstanding as of May 29, 2026)
- StockTitan: NIP Group 6-K, Tranche 2 asset purchase amendment and second closing, June 2026
- GlobeNewswire via Finviz: NIP Group Inc. Announces ADS Ratio Change to Be Effective on July 6, 2026, July 1, 2026
- GlobeNewswire via Finviz: NIP Group Inc. Regains Compliance with Nasdaq’s Minimum Bid Price Requirement, July 24, 2026
- OCC News Release 2026-92: OCC Advances U.S. Digital Asset Leadership with Final Rule to Implement GENIUS Act, October 21, 2026
- The Block: First out the gate: OCC debuts final rule implementing Trump-signed GENIUS Act, October 21, 2026
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