US Investment Bank H.C. Wainwright Reiterates Buy Rating on IHC Portfolio Company, Phoenix Group, with AED 3.00 Target
Independent equity analysts at H.C. Wainwright & Co. have assigned Phoenix Group a Buy rating and AED 3.00 price target, recognizing its evolution beyond mining into high-growth AI and HPC infrastructure.
Based on the August 4, 2025, closing price of AED 1.48, the report states an enormous upside potential in excess of 102% for the shares. The positive assessment is underpinned by Phoenix Group's strategic expansion and its forward-looking ambitions in high-growth technology sectors.
The report, titled ' Re-Energized Sites and AI/HPC Feasibility Prime Upside; Reit. Buy,' underscores Phoenix Group's strong position for meaningful growth in both the near and long term. The reaffirmed Buy rating is supported by a shift to higher-margin self-mining, expanding operational capacity, and significant digital asset holdings of BTC and Solana in excess of 150 million USD.
The analysis highlights Phoenix's diversified strategy, which balances efficient digital asset mining with strategic investment in next-generation sectors such as Artificial Intelligence (AI) and High-Performance Computing (HPC).
It also notes the company's ability to attract ongoing capital support amid broader industry trends that favour advanced connectivity and compute infrastructure. With new sites expected to come online, Phoenix is well-positioned to meet growing demand for AI workloads and unlock additional revenue streams.
Central to this momentum is Phoenix's established partnership with IHC (IHC: ADX), the Abu Dhabi-based diversified investment firm. As a valued IHC portfolio company, Phoenix leverages shared expertise and resources to scale operations and execute on innovative projects, bolstering its resilience in a dynamic market.
'We are delighted that H.C. Wainwright sees the significant value and enormous potential in our strategy,' said Munaf Ali, CEO and Co-founder of Phoenix Group. 'This report validates our team's hard work to expand our core mining operations efficiently while boldly moving into the AI and HPC space. As an IHC portfolio company, we are committed to driving innovation and delivering superior returns for our shareholders, and this report confirms we are on the right path.'
While the report acknowledges sector-specific risks, including digital asset market volatility, it expresses confidence in Phoenix's strategic trajectory and competitive positioning. Full details of Phoenix Group's Q2 2025 results and the analyst report are available on the company's Investor Relations page.
About Phoenix Group
Phoenix Group PLC, an IHC Portfolio Company, is a multi-billion-dollar global technology leader headquartered in Abu Dhabi, UAE.
As one of the world's top ten Bitcoin miners, it operates over 500 megawatts across the UAE, U.S., Canada, Oman, and Ethiopia, running the biggest mining farm in MENA.
Phoenix Group is the first crypto and blockchain conglomerate in the region to be listed on the Abu Dhabi Securities Exchange (ADX).
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