Abu Dhabi’s Phoenix Group Launches $150M Bitcoin, Solana Reserve in Regional First
Main Idea
Phoenix Group, a publicly listed Bitcoin mining company in Abu Dhabi, has launched a $150 million cryptocurrency reserve, becoming the first ADX-listed firm to hold digital assets, reflecting its long-term commitment to the crypto industry.
Key Points
1. Phoenix Group's reserve includes 514 Bitcoin and 630,000 Solana tokens, showcasing its strategic investment in digital assets.
2. The company's self-mining revenue surged 219% over two years, from $13 million in H1 2023 to $41.7 million in H1 2025, despite a recent 51% decline in Q2 2025 mining output.
3. Phoenix Group's share price surged 72% between April and June 2025, making it one of the top-performing stocks on the ADX in Q2.
4. The company improved its gross profit margin on self-mining to 31% while managing $16 million in debt.
5. Phoenix Group projects a partial recovery in Q3, driven by gains in key holdings like Solana.
Description
Phoenix Group, a publicly listed Bitcoin mining company based in Abu Dhabi, has unveiled a $150 million strategic cryptocurrency reserve, making it the first firm on the Abu Dhabi Securities Exchange (ADX) to hold a digital asset treasury. Key Takeaways: Phoenix Group has launched a $150M crypto reserve, becoming the first ADX-listed firm to hold digital assets. The company’s self-mining revenue surged 219% over two years despite a recent drop in output. Phoenix expects a Q3 rebound as Solana an...
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