Phoenix Group PLC Overview
Pro stress-test →Phoenix Group is the first cryptocurrency firm listed on the Abu Dhabi Stock Exchange and is building the Middle East's largest Web3 Ecosystem. As a top 10 Bitcoin miner globally, the company operates facilities in the UAE, U.S., Canada, Oman, and Ethiopia with over 500 megawatts capacity.
Strategic Profile
Pro stress-test →The company has formalized a digital asset treasury valued at over $150 million, primarily consisting of Bitcoin and Solana tokens, making it the first ADX-listed entity to adopt such a strategy. Phoenix is conducting feasibility studies to convert portions of its U.S. infrastructure for artificial intelligence and high-performance computing applications, targeting 1 gigawatt of hybrid infrastructure by 2027.
Competitive Landscape
Pro stress-test →Phoenix maintains its position as the largest Bitcoin miner in the Middle East and North Africa region, though global competition has intensified. The company operates differently from pure-play miners through diversified verticals including hosting, trading, equipment distribution, and now digital treasury/AI infrastructure.
Industry Context
Phoenix Group PLC operates in Cryptocurrency Mining, Blockchain Infrastructure & Digital Assets.
Key facts
Founded: 2017 · Headquarters: Abu Dhabi, United Arab Emirates · Employees: 186 · Revenue: $107M (FY2024 mining); $206M (total revenue across all verticals) · Market cap: 5.44B AED (~$1.48B USD)