Bitcoin News Today: Phoenix Group Establishes $150M Treasury With 514 BTC and 630,000 SOL

Phoenix Group, a publicly traded Bitcoin miner listed on the Abu Dhabi Securities Exchange (ADX), has announced the establishment of a $150 million digital asset treasury, comprising 514 Bitcoin (BTC) and 630,000 Solana (SOL) tokens. This marks the first instance of an ADX-listed firm formalizing a strategic digital asset reserve, signaling growing institutional confidence in cryptocurrencies across the Gulf [1]. The move aligns with broader industry trends where corporations increasingly integrate alternative digital assets into their balance sheets [1].

The treasury represents Phoenix Group’s commitment to long-term blockchain network value, as emphasized by CEO Munaf Ali. “We believe in the long-term value these networks represent, and our treasury strategy reflects that belief,” he stated [1]. The firm is not only mining but also strategically positioning itself as a key player in institutional blockchain adoption in the region [1].

In Q2 2025, Phoenix Group reported $29 million in revenue and mined 336 BTC globally, with 214 BTC from its own mining operations. While mined BTC dropped 51% compared to Q1 2025, self-mining revenue increased by 219% from the same period in 2023. The company also disclosed $16 million in debt and a non-cash loss of $29 million, attributed to revaluations of its digital asset portfolio and a one-time depreciation adjustment under revised accounting standards [1].

Phoenix Group’s stock has demonstrated strong performance, surging over 72% between April and June 2025, making it one of the five most-traded and highest-performing stocks on the ADX in Q2 2025. This reflects growing investor confidence in the firm’s strategic direction [1].

Looking ahead, the company anticipates a partial rebound in asset valuations in Q3 2025, driven by recent price recoveries in key holdings such as Solana [1]. The treasury strategy is seen as more than just market exposure—it is positioned as a forward-looking alignment with the evolving financial landscape [1].

The firm’s move highlights a broader shift in corporate attitudes toward digital assets. Phoenix Group joins a growing number of companies allocating significant portions of their reserves to cryptocurrencies. For instance, BitMine Immersion Technologies has announced plans to acquire up to 5% of the Ethereum supply and currently holds 625,000 Ether tokens—approximately 0.52% of the circulating ETH supply—as part of its $1 billion stock repurchase program [1].

The establishment of the $150 million Bitcoin and Solana treasury cements Phoenix Group’s position as a leader in institutional crypto adoption in the Gulf. It also signals a potential shift in how traditional financial institutions view digital assets, with more firms expected to follow suit in the coming months [1].

Source: [1] Phoenix Group Launches $150M Crypto Treasury for BTC, SOL (https://cointelegraph.com/news/phoenix-group-150m-crypto-treasury-bitcoin-solana-adx)