Phoenix Group, a leading Abu Dhabi-based Bitcoin mining firm, launches a $150 million strategic cryptocurrency reserve consisting of 514 Bitcoin and 630,000 Solana tokens, becoming the first company on the Abu Dhabi Securities Exchange to hold a digital asset treasury. Despite a 51% drop in mining output, the firm shows strong financial results with significant revenue growth in self-mining operations and cost efficiencies. While some analysts remain cautious about the sustainability of crypto treasury strategies, Phoenix Group’s initiative marks a significant regional milestone in digital asset management.
Continue to read Abu Dhabi’s Phoenix Group Pioneers $150M Bitcoin and Solana Reserve on ADX
Phoenix Group, a leading Abu Dhabi-based Bitcoin mining firm, launches a $150 million strategic cryptocurrency reserve consisting of 514 Bitcoin and 630,000 Solana tokens, becoming the first company on the Abu Dhabi Securities Exchange to hold a digital asset treasury. Despite a 51% drop in mining output, the firm shows strong financial results with significant revenue growth in self-mining operations and cost efficiencies. While some analysts remain cautious about the sustainability of crypto treasury strategies, Phoenix Group’s initiative marks a significant regional milestone in digital asset management.
Continue to read Abu Dhabi’s Phoenix Group Pioneers $150M Bitcoin and Solana Reserve on ADX
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