Phoenix Group launches a $150 million cryptocurrency vault for BTC, SOL

2025-07-31 02:01:27

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Phoenix Group, a Bitcoin mining company listed in Abu Dhabi, has established a cryptocurrency reserve fund worth 150 million USD, consisting of 514 BTC and 630,000 SOL, becoming the first company on the ADX exchange to implement a digital asset strategy. CEO Munaf Ali stated that holding these assets demonstrates a long term belief in the value of the blockchain network.

In Q2/2025, Phoenix Group reported a revenue of 29 million USD, mining 336 BTC, of which 214 BTC came from self-mining activities. Although down from the previous quarter, self-mining revenue increased by 219% over two years, reaching 41.7 million USD with a profit margin of 31%. The company also reported a non-cash loss of 29 million USD and expects asset values to recover in Q3 thanks to the upward momentum of Solana.

Phoenix is currently one of the five most actively traded stocks on the ADX exchange.

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