Phoenix Group Pioneers Abu Dhabi Crypto Market with $150M Reserve

Phoenix Group has unveiled a $150 million crypto reserve, including 514 Bitcoin and 630,000 Solana. The move reflects the company's belief in the long-term value of blockchain networks. Phoenix has seen self-mining revenue soar 219% over the last two years, despite a revenue dip in Q2. The announcement follows a growing trend of crypto-focused balance sheet strategies.

Phoenix Group, a prominent Bitcoin mining firm listed on the Abu Dhabi Securities Exchange (ADX), has announced the establishment of a $150 million strategic cryptocurrency reserve. This move positions Phoenix Group as the first publicly listed company on the ADX to open such a reserve, marking a significant milestone in the company's digital asset strategy.

The crypto reserve, which includes 514 Bitcoin (BTC) and 630,000 Solana (SOL) tokens, underscores Phoenix Group's commitment to the long-term potential of blockchain networks. The company's CEO, Munaf Ali, emphasized that holding Bitcoin and other strategic digital assets is not just about exposure but about alignment with the underlying value of these networks [1].

Despite a 43% decline in quarterly revenue compared to last year, Phoenix Group has seen its self-mining revenue surge by 219% over the past two years. The company reported $29.1 million in revenue for the second quarter of 2025, a significant drop from $51.2 million in the same period last year. However, this decline was primarily driven by unrealized losses on digital asset holdings, totaling $166.1 million during the first six months of 2025 [3].

The establishment of the crypto reserve comes at a time when more Bitcoin mining companies are considering altcoins as part of their balance sheet, signaling increased institutional demand for cryptocurrencies beyond Bitcoin. Phoenix Group's move aligns with the broader trend of crypto-focused balance sheet strategies, as seen with other publicly listed mining entities like BitMine Immersion Technologies, which has become the largest Ether (ETH) treasury firm [2].

Phoenix Group's stock performance has also been notable. The company's share price rose by over 72% between April and June 2025, making it one of the top five most-traded and best-performing stocks on the ADX during the second quarter of 2025 [1].

Despite the recent market challenges, Phoenix Group's strategic positioning within the dynamic cryptocurrency market highlights its long-term growth prospects. The company anticipates a partial recovery in asset valuations during the third quarter of 2025, driven by recent price improvements in key holdings such as Solana [2].

In conclusion, Phoenix Group's $150 million crypto reserve is a strategic move that reflects the company's belief in the long-term value of blockchain networks. The move aligns with the broader trend of crypto-focused balance sheet strategies and positions Phoenix Group as a leader in the cryptocurrency mining sector.

References:
[1] https://cointelegraph.com/news/phoenix-group-150m-crypto-treasury-bitcoin-solana-adx
[2] https://www.cryptotimes.io/2025/07/31/mining-firm-phoenix-group-sets-150m-crypto-reserve/
[3] https://www.financemagnates.com/cryptocurrency/uae-bitcoin-miner-phoenix-group-reports-43-revenue-decline-highlights-shift-toward-digital-treasury/