Latest news with #MunafAli
Zawya
09-05-2025
- Business
- Zawya
Phoenix Group expands Bitcoin mining globally, generates over $31mln revenues in Q1-25
Abu Dhabi – Phoenix Group posted consolidated revenues valued at $31.26 million in the first quarter (Q1) of 2025, according to the financial results. The group reported gross profit of $6.30 million as of 31 March 2025, while operating expenses totaled $9 million, reflecting increased costs associated with scaling operations globally. Phoenix Group mined more than 350 Bitcoins in Q1-25, which includes 222 Bitcoins that were self-mined. Meanwhile, the opening of new facilities in the US and Ethiopia is expected to expand this capacity in Q3 and beyond. Munaf Ali, CEO and Co-Founder of Phoenix Group, commented: 'Phoenix Group's position as a top 10 global Bitcoin miner, underpinned by our strategic site locations in Canada, Ethiopia, Oman, the UAE, and the US, provides us inherent resilience to market fluctuations.' 'We are not just weathering the current sector-wide pressures but actively accelerating our expansion. This momentum will carry through 2025 and 2026 as we aggressively build out the capacity needed to meet the inevitable surge in demand for power required by Bitcoin mining and AI data centers. Phoenix Group is strategically poised to be a primary enabler of this digital transformation,' Ali mentioned. He noted: "The launch of our Texas facility strengthens our operational base in North America while reinforcing our industry-leading mining infrastructure and global diversification strategy.' As of 31 December 2024, the group's revenues jumped by 236% year-over-year (YoY). Source: Mubasher
Arabian Business
30-04-2025
- Business
- Arabian Business
Phoenix Group adds 52 MW to Ethiopian Bitcoin mining operations
Phoenix Group PLC, a global cryptocurrency and blockchain company, announced securing an additional 52 MW of mining capacity in Ethiopia. This expansion increases the company's total operational capacity in the country to 132 MW, it said. It also raises Phoenix Group's global capacity to over 500 MW across five countries, reinforcing the company's position as one of the world's top 10 Bitcoin miners. Munaf Ali, CEO and Co-Founder of Phoenix Group, said the Group has rapidly become a leading force among the top 10 global Bitcoin mining companies. 'It is a testament to our strategic foresight in securing prime locations with abundant, low-cost energy and our operational excellence driven by vertical integration and cutting-edge technology,' he said. Ali said the opportunities for future growth are immense, and the company is committed to aggressively expanding its global footprint in key energy markets. Earlier this year, Phoenix Group marked its entry into Ethiopia with an 80 MW power purchase agreement (PPA). The company said the newly secured 52 MW site will be developed in two phases, with phase 1 delivering 20 MW of capacity, activating 5,300 high-efficiency air-cooled mining units with an expected output of 1.2 EH/s. Phase 2, set for completion by the end of Q2 2025, will add a further 32 MW, using hydro-cooling technology. Once fully operational, the site's total hash rate is projected to double to approximately 2.4 EH/s. Phoenix said its Ethiopian operations rank among the most sustainable in global Bitcoin mining, with 90 per cent of their energy sourced from renewable hydropower via the Grand Ethiopian Renaissance Dam.
Zawya
29-04-2025
- Business
- Zawya
Phoenix Group adds 52 megawatts of Bitcoin mining capacity in Ethiopia
Additional capacity enhances Phoenix's diversified and global scale, reinforcing its position as a world-class leader in Bitcoin mining. Abu Dhabi, UAE: Phoenix Group PLC (ADX:PHX), a pioneering global cryptocurrency, blockchain, and next-generation digital asset infrastructure company, has secured an additional 52 MW of mining capacity in Ethiopia. This expansion increases the Company's total operational capacity in the country to 132 MW and raises its global capacity to over 500 MW across five countries, reinforcing Phoenix Group's position as one of the world's top 10 Bitcoin miners. Munaf Ali, CEO & Co-Founder of Phoenix Group, said: "Phoenix Group has rapidly become a leading force among the top 10 global Bitcoin mining companies, a testament to our strategic foresight in securing prime locations with abundant, low-cost energy and our operational excellence driven by vertical integration and cutting-edge technology. The opportunities for future growth are immense, and we are committed to aggressively expanding our global footprint in key energy markets. Initiatives like our latest expansion in Ethiopia are pivotal steps, not only creating significant value today but also solidifying our position at the forefront of this dynamic global industry for years to come." Earlier this year, Phoenix Group marked its entry into Ethiopia with an 80 MW power purchase agreement (PPA), laying the groundwork for efficient, low-cost, and sustainable operations in a strategically important region. The newly secured 52 MW site will be developed in two phases. Phase 1 will deliver 20 MW of capacity, activating 5,300 high-efficiency air-cooled mining units with an expected output of 1.2 EH/s. Phase 2, set for completion by the end of Q2 2025, will add a further 32 MW, using hydro-cooling technology. Once fully operational, the site's total hash rate is projected to double to approximately 2.4 EH/s. Reza Nedjatian, CEO of Phoenix Mining, AI & Data Centers, added: "With 132 MW now running on clean hydropower, we're proud to set a new benchmark for sustainable mining in Africa and deliver large-scale operations in energy-rich regions." Phoenix Group's Ethiopian operations rank among the most sustainable in global Bitcoin mining, with 90% of their energy sourced from renewable hydropower via the Grand Ethiopian Renaissance Dam. This clean energy focus reflects the Group's commitment to responsible growth and advancing energy-conscious practices across its global mining portfolio. About Phoenix Group Phoenix Group is a multi-billion-dollar global technology leader headquartered in Abu Dhabi, UAE. Founded in 2017, the company has rapidly grown and established a global presence, with a diverse portfolio in blockchain, crypto, and technology sectors. As one of the world's top ten Bitcoin miners, Phoenix Group drives innovation, sustainability, and operational excellence, advancing digital asset and blockchain adoption. Phoenix Group operates mining facilities across the UAE, US, Canada, Oman, and Ethiopia, totaling over 500 MW capacity. Phoenix Group is the first crypto and blockchain company in the Middle East listed on the Abu Dhabi Securities Exchange (ADX) and operates the largest mining farm in the MENA region. Media Contacts Phoenix Group PLC Media Team: Rose Perinchery – media@ DGA Group: Humza Vanderman / James Styles – phoenixgroupuae@ Social Media X (Twitter): @phoenixgroupuae LinkedIn: Phoenix Group UAE Website:
Zawya
10-03-2025
- Business
- Zawya
Phoenix Group CEO increases stake, reinforcing confidence in Long-term growth strategy
Company continues to evaluate potential U.S. listing, highlighting its commitment to global growth and diversification Abu Dhabi, UAE: Phoenix Group PLC (ADX: PHX, the 'Company' or the 'Group'), a pioneering global cryptocurrency, blockchain and next-generation digital infrastructure company, announces that CEO & Co-Founder Munaf Ali has significantly increased his stake in the company, reaffirming his strong belief in its prospects and long-term growth trajectory. Since the public disclosure on ADX on November 18, 2024, Ali has acquired over 20 million ordinary shares of Phoenix Group through direct market purchases. This substantial investment highlights his deep confidence in the Company's growth potential and his commitment to aligning executive interests with those of shareholders. 'As we enter a year of high-impact expansion, I firmly believe in Phoenix Group's long-term potential, as these purchases show,' said Munaf Ali, CEO & Co-Founder of Phoenix Group 'Increasing my holding in the Company reflects my belief in our differentiated strategy, high quality operations, and future growth. Phoenix Group is at the forefront of digital asset mining, and as a Board we remain fully focused on delivering growth and sustainable value creation for our shareholders.' Strengthening Global Presence & U.S. Expansion As previously announced, Phoenix Group will participate in the Cantor Global Technology Conference in New York City, USA, on March 11-12, 2025. This high-profile engagement will provide the Company with an opportunity to interact with leading U.S. institutional investors and strategic partners, further reinforcing the Group's presence in the U.S. market. Additionally, Phoenix Group continues to evaluate the potential for a future U.S. listing, aligning with its ongoing expansion into the North American bitcoin mining sector. The Company's investments in the U.S. reflect a broader strategy to scale its high-margin self-mining operations and diversify its geographic footprint in 2025 and beyond. About Phoenix Group Phoenix Group is a multi-billion-dollar global technology leader headquartered in Abu Dhabi, UAE. Founded in 2017, the company has rapidly grown into a conglomerate with a diverse portfolio of businesses in the blockchain, crypto, and technology sectors. As one of the world's top 5 Bitcoin miners, Phoenix Group is at the forefront of the digital asset revolution. With a strong focus on innovation, sustainability, and operational excellence, the company is driving the adoption of digital assets and blockchain technology. Phoenix Group operates multiple mining facilities in the US, Canada, Oman, Ethiopia, and the UAE, with a total mining capacity of 451 MW. Phoenix Group is the first crypto and blockchain conglomerate in the region to be listed on the Abu Dhabi Securities Exchange. It also operates the largest mining farm in the MENA region. Phoenix Group PLC media team contact:
Yahoo
20-02-2025
- Business
- Yahoo
Phoenix Group Leads The Pack With 2 More Promising Penny Stocks
Global markets have been on a positive trajectory, with U.S. stock indexes nearing record highs and growth stocks outperforming value shares. Amidst this backdrop, the concept of penny stocks remains relevant, offering investors potential opportunities for growth at lower price points. Though often associated with smaller or newer companies, these stocks can be attractive when they demonstrate strong financial fundamentals and balance sheet strength. Name Share Price Market Cap Financial Health Rating Bosideng International Holdings (SEHK:3998) HK$3.90 HK$45.23B ★★★★★★ DXN Holdings Bhd (KLSE:DXN) MYR0.52 MYR2.56B ★★★★★★ Polar Capital Holdings (AIM:POLR) £4.875 £469.93M ★★★★★★ Warpaint London (AIM:W7L) £4.05 £327.19M ★★★★★★ Begbies Traynor Group (AIM:BEG) £0.942 £150.13M ★★★★★★ Hil Industries Berhad (KLSE:HIL) MYR0.855 MYR283.81M ★★★★★★ Foresight Group Holdings (LSE:FSG) £3.95 £448.86M ★★★★★★ Embark Early Education (ASX:EVO) A$0.80 A$146.79M ★★★★☆☆ Next 15 Group (AIM:NFG) £3.07 £305.33M ★★★★☆☆ Secure Trust Bank (LSE:STB) £4.28 £81.63M ★★★★☆☆ Click here to see the full list of 5,684 stocks from our Penny Stocks screener. We'll examine a selection from our screener results. Simply Wall St Financial Health Rating: ★★★★☆☆ Overview: Phoenix Group Plc, along with its subsidiaries, offers crypto and cloud mining services across the United Arab Emirates, Oman, CIS, Canada, the United States, and other international markets with a market cap of AED6.47 billion. Operations: The company generates revenue from its data processing segment, amounting to $205.69 million. Market Cap: AED6.47B Phoenix Group Plc recently reported a decline in revenue to US$205.69 million for 2024, down from US$288.19 million the previous year, with net income also decreasing to US$167.37 million. Despite negative earnings growth and a decline in revenue, the company's strategic expansion with a new 50MW mining facility in North Dakota enhances its digital asset infrastructure capabilities significantly. The company maintains strong liquidity with short-term assets exceeding liabilities and has a satisfactory net debt to equity ratio of 2%. Leadership changes include Munaf Ali's appointment as CEO, aiming to leverage his expertise for future growth opportunities in cryptocurrency markets. Unlock comprehensive insights into our analysis of Phoenix Group stock in this financial health report. Gain insights into Phoenix Group's historical outcomes by reviewing our past performance report. Simply Wall St Financial Health Rating: ★★★★★★ Overview: Qinghai Spring Medicinal Resources Technology Co., Ltd. operates in the medicinal resources sector and has a market cap of CN¥2.14 billion. Operations: Qinghai Spring Medicinal Resources Technology Co., Ltd. does not report distinct revenue segments. Market Cap: CN¥2.14B Qinghai Spring Medicinal Resources Technology, with a market cap of CN¥2.14 billion, operates without debt and maintains strong liquidity as its short-term assets of CN¥616.4 million surpass both short-term and long-term liabilities. Despite trading at 56.9% below estimated fair value, the company remains pre-revenue and unprofitable, with earnings declining by 22.4% annually over the past five years. The board is experienced with an average tenure of 3.7 years, yet management tenure data is insufficient to assess experience levels fully. Recent events include a special shareholders meeting scheduled for December 2024 in Xining, Qinghai China. Jump into the full analysis health report here for a deeper understanding of Qinghai Spring Medicinal Resources Technology. Learn about Qinghai Spring Medicinal Resources Technology's historical performance here. Simply Wall St Financial Health Rating: ★★★★★★ Overview: Era Co., Ltd. engages in the research, development, production, and sale of plastic pipe products in China and has a market capitalization of CN¥5.30 billion. Operations: The company has not reported any specific revenue segments. Market Cap: CN¥5.3B Era Co., Ltd., with a market capitalization of CN¥5.30 billion, has not diluted shareholders over the past year and maintains a stable weekly volatility of 5%. Despite negative earnings growth of -20.2% last year, its board is experienced with an average tenure of 4.5 years. The company's Return on Equity is low at 4.2%, but it holds more cash than total debt and covers interest payments effectively. Short-term assets (CN¥4 billion) exceed both short-term and long-term liabilities, indicating strong liquidity, while debt to equity has improved significantly over five years from 7.1% to 2.7%. Click to explore a detailed breakdown of our findings in Era's financial health report. Learn about Era's future growth trajectory here. Discover the full array of 5,684 Penny Stocks right here. Have you diversified into these companies? Leverage the power of Simply Wall St's portfolio to keep a close eye on market movements affecting your investments. Simply Wall St is a revolutionary app designed for long-term stock investors, it's free and covers every market in the world. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Jump on the AI train with fast growing tech companies forging a new era of innovation. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include ADX:PHX SHSE:600381 and SZSE:002641. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
