Bitcoin News Today: Phoenix Group Establishes $150M Crypto Treasury with 514 BTC and 630K SOL

Phoenix Group, a publicly traded Bitcoin miner listed on the Abu Dhabi Securities Exchange (ADX), has established a $150 million cryptocurrency treasury, comprising 514 Bitcoin (BTC) and 630,000 Solana (SOL) tokens, marking the first time a listed company in Abu Dhabi has set up a strategic digital asset reserve. The company described the move as a reflection of its confidence in the long-term value of the blockchain networks supporting these assets [1].

Munaf Ali, co-founder and CEO of Phoenix Group, emphasized that holding Bitcoin and other strategic digital assets is not merely about market exposure but about aligning with the evolving financial landscape. This strategy aligns with broader trends in the industry, as more Bitcoin mining firms diversify their balance sheets to include alternative cryptocurrencies, signaling increased institutional demand beyond Bitcoin [1].

In terms of recent performance, Phoenix Group has emerged as one of the five most-traded and highest-performing stocks on the ADX in the second quarter of 2025. The company's share price surged by over 72% between April and June 2025, indicating strong investor confidence in its strategic direction [1].

Operationally, Phoenix Group reported $29 million in revenue for the second quarter of 2025. The firm mined a total of 336 BTC globally, with 214 BTC attributed to self-mining. This represents a 219% increase in self-mining Bitcoin revenue compared to the first half of 2023, despite a 51% decline in mined BTC from the first quarter of 2025, when the company had mined 689 BTC. The firm also reported $16 million in debt and a non-cash loss of $29 million, attributed to revaluations in its digital asset portfolio and a one-time depreciation adjustment under revised accounting standards [1].

Looking ahead, Phoenix Group anticipates a "partial rebound in asset valuations" in the third quarter of 2025, driven by recent price recoveries in key holdings such as Solana [1].

This development highlights a growing trend of corporate adoption in the cryptocurrency sector. Phoenix Group joins a growing list of companies, including BitMine Immersion Technologies, which recently 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].

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