Bitcoin miner Phoenix Group launches $150M crypto treasury for BTC, SOL
Main Idea
Bitcoin miner Phoenix Group has launched a $150 million cryptocurrency treasury, including Bitcoin and Solana, becoming the first company listed on the Abu Dhabi Securities Exchange (ADX) to do so.
Key Points
1. Phoenix Group's $150 million crypto treasury includes 514 Bitcoin and 630,000 Solana tokens.
2. The company is the first listed on the Abu Dhabi Securities Exchange (ADX) to establish a strategic cryptocurrency reserve.
3. Phoenix Group reported $29 million in revenue for Q2 2025, with a 219% rise in self-mined Bitcoin revenue over two years.
4. The company mined 336 BTC in Q2 2025, with 214 BTC attributed to self-mining, marking a 51% decline from the previous quarter.
5. Phoenix Group also reported $16 million in debt and a non-cash loss of $29 million due to revaluations in its digital asset portfolio.
Description
This made Phoenix Group the first company listed on the Abu Dhabi Securities Exchange (ADX) to open a strategic cryptocurrency reserve, it said.
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