Phoenix Group announced its Q3 2025 performance, with revenue rising by 10% year-on-year and accelerating global expansion.

2025-10-29 11:29:30

Abstract generation in progress

PANews reported on October 29 that Phoenix Group, a blockchain and digital asset infrastructure company based in Abu Dhabi, announced its third-quarter financial report today. Revenue rose 10% quarter-on-quarter to $32 million, and adjusted EBITDA surged 154% to $960,000, benefiting from improved self-mining and energy efficiency optimization. During Q3, the company mined a total of 305.5 BTC, including 194.9 BTC from self-mining, and held 682 BTC and approximately 642,000 SOL at the end of the period. Phoenix maintains a stable 10.8 EH/s of Bitcoin mining power globally, accounting for a stable share, and is expanding into the Americas and Ethiopia, with an additional capacity of 106 MW, expected to reach 13 EH/s by 2026. The company is also advancing its transformation into AI and high-performance computing businesses, recording a one-time non-cash impairment of $48.5 million due to adjustments in its South Carolina operations.

PHB-0.23%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.