Bitcoin miner Phoenix Group launched a $150 million strategic cryptocurrency reserve as the primary publicly listed firm in Abu Dhabi to determine a digital asset fund.
Phoenix Group introduced the formation of its digital asset treasury valued at $150 million, which included 514 Bitcoin (BTC) and 630,000 Solana (SOL) tokens because the miner’s “long-term reserve.”
This made Phoenix Group the primary firm listed on the Abu Dhabi Securities Alternate (ADX) to open a strategic cryptocurrency reserve, the corporate mentioned in a Thursday announcement shared with Cointelegraph.
“Holding Bitcoin and different strategic digital property isn’t nearly publicity. It’s about alignment,” wrote Munaf Ali, co-founder and CEO of Phoenix Group, including:
“We imagine within the long-term worth these networks signify, and our treasury technique displays that perception.”
Phoenix Group turned one of many 5 most-traded and best-performing shares on the ADX within the second quarter of 2025, after its share value rose by over 72% from April to June.
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More and more extra Bitcoin mining corporations are contemplating altcoins as a part of their steadiness sheet, signaling extra institutional demand for cryptocurrencies past Bitcoin.
Notably, publicly listed Bitcoin mining agency BitMine Immersion Applied sciences turned the biggest Ether (ETH) treasury agency after saying plans to accumulate as much as 5% of Ether’s provide.
BitMine presently holds 625,000 Ether tokens, or 0.52% of the full circulating ETH provide, the agency introduced on Tuesday, as a part of a $1 billion inventory repurchase program.
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Phoenix Group studies $29M income for Q2, 219% rise in self-mining BTC
Phoenix Group reported $29 million in income and a complete of 336 BTC mined throughout its world operations, together with 214 BTC attributed to self-mining, throughout the second quarter of 2025.
This marks a 51% decline from the primary quarter, when Phoenix Group mined a cumulative 689 BTC.
Nonetheless, the miner has reported a 219% surge in self-mining Bitcoin income over two years, from $13 million within the first half of 2023 to over $41.7 million within the first half of 2025, with a 31% gross profitability margin on self-mining and a 14% discount in vitality prices.
Phoenix Group additionally reported $16 million value of debt and a non-cash lack of $29 million, “on account of revaluations in its digital asset portfolio and a one-time depreciation adjustment underneath revised accounting requirements.”
Phoenix Group expects a “partial rebound in asset valuations” within the third quarter, pushed by the current value recoveries in “key holdings akin to Solana.”
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