Latest news with #PHX
Zawya
31-07-2025
- Business
- Zawya
Phoenix Group announces Q2 2025 results: Robust mining, $150mln+ Crypto Treasury formalized, AI expansion
Abu Dhabi, UAE – Phoenix Group PLC (ADX: PHX), a pioneering global cryptocurrency, blockchain, and digital asset infrastructure company, today announced its Q2 2025 financial and operational results, including formalizing a digital asset treasury valued at over $150 million. Q2 2025 Highlights: Strategic Treasury Launch: Became the first-ever ADX-listed company to formalize a digital asset treasury, valued at over $150 million in Bitcoin and Solana. Operational Excellence: $29 million revenue; mined 336 BTC in Q2 with 31% self-mining gross margin and 14% energy cost reduction. Market Performance: Share price surged over 72% from April to June, with momentum continuing to produce 110% gains from the start of April to date. Future Growth Acceleration: Actively expanding its AI/HPC vertical to build 1 Gigawatt of hybrid infrastructure by 2027. Operationally, the company reported $29 million in revenue and mined a total of 336 BTC across its global operations in Q2, including 214 BTC attributed to self-mining. Across the first half of 2025, the Group has mined a cumulative total of 689 BTC. Self-mining Bitcoin revenue surged 219% over two years, rising from $13M in H1 2023 to $41.7M in H1 2025. The company continues to mine profitably, reporting a 31% gross margin on self-mining and a 14% reduction in energy costs, reinforcing its position as one of the most efficient Bitcoin miners globally. A sturdy balance sheet supports the company's market performance. Unlike debt-heavy rivals, Phoenix is almost debt-free at $16 million, enabling pursuits like its treasury and AI expansion. In a major strategic milestone, Phoenix announced the official rollout of its digital asset treasury strategy, making it the first ADX-listed company to do so. The Group's active treasury, valued at over $150 million, mainly consists of Bitcoin and Solana, with 514 BTC and more than 630,000 SOL held as part of its long-term reserve. 'Phoenix has always been more than just a mining company. We're a conviction-led digital infrastructure group,' said Munaf Ali, CEO and Co-Founder of Phoenix Group. 'Holding Bitcoin and other strategic digital assets isn't just about exposure. It's about alignment. We believe in the long-term value these networks represent, and our treasury strategy reflects that belief'. Additionally, the quarter saw Phoenix's share price rise by over 72% from April to June, placing it among the top five most traded and best-performing stocks on the Abu Dhabi Securities Exchange. The momentum has continued into Q3, with gains of 110% to date. The Company also reported a non-cash loss of $29 million, largely due to revaluations in its digital asset portfolio and a one-time depreciation adjustment under revised accounting standards. With recent price recoveries in key holdings such as Solana, Phoenix anticipates a partial rebound in asset valuations in Q3 and beyond. AI & HPC Outlook Looking ahead, Phoenix is accelerating the buildout of its AI and HPC vertical. A feasibility study is currently underway to repurpose part of its U.S. infrastructure into a dedicated multi-use compute facility. In parallel, the Company is actively evaluating several strategic locations globally to identify markets where infrastructure upgrades or redeployments could rapidly expand its AI and HPC footprint. 'We are building toward 1 gigawatt of hybrid infrastructure by 2027, and we see a clear path to get there,' added Ali. 'As we move forward, we see strategic opportunities to consolidate underutilized infrastructure globally. Many smaller operators are stuck with land and power they can't convert into meaningful compute. Phoenix's execution speed and platform model give us a distinct edge to acquire and upgrade these assets for AI ahead of the broader market'. As it enters its next phase of growth, Phoenix Group is focused on delivering capital-efficient expansion, scaling its AI/HPC infrastructure, and further developing its digital asset treasury, all while maintaining its leadership as the largest Bitcoin miner in the MENA region and a global leader in the industry. About Phoenix Group Phoenix Group is a multi-billion-dollar global technology leader headquartered in Abu Dhabi, UAE. As a top 10 Bitcoin miner globally, it drives digital asset adoption through innovation, sustainability, and excellence. It operates facilities in the UAE, U.S., Canada, Oman, and Ethiopia with over 500 megawatts capacity, and is the region's first crypto conglomerate listed on ADX, running MENA's largest mining farm. For media inquiries: Rose Perinchery media@
Zawya
31-07-2025
- Business
- Zawya
Phoenix Group announces Q2 2025 results
Abu Dhabi, UAE – Phoenix Group PLC (ADX: PHX), a pioneering global cryptocurrency, blockchain, and digital asset infrastructure company, today announced its Q2 2025 financial and operational results, including formalizing a digital asset treasury valued at over $150 million. Q2 2025 Highlights: Strategic Treasury Launch: Became the first-ever ADX-listed company to formalize a digital asset treasury, valued at over $150 million in Bitcoin and Solana. Operational Excellence: $29 million revenue; mined 336 BTC in Q2 with 31% self-mining gross margin and 14% energy cost reduction. Market Performance: Share price surged over 72% from April to June, with momentum continuing to produce 110% gains from the start of April to date. Future Growth Acceleration: Actively expanding its AI/HPC vertical to build 1 Gigawatt of hybrid infrastructure by 2027. Operationally, the company reported $29 million in revenue and mined a total of 336 BTC across its global operations in Q2, including 214 BTC attributed to self-mining. Across the first half of 2025, the Group has mined a cumulative total of 689 BTC. Self-mining Bitcoin revenue surged 219% over two years, rising from $13M in H1 2023 to $41.7M in H1 2025. The company continues to mine profitably, reporting a 31% gross margin on self-mining and a 14% reduction in energy costs, reinforcing its position as one of the most efficient Bitcoin miners globally. A sturdy balance sheet supports the company's market performance. Unlike debt-heavy rivals, Phoenix is almost debt-free at $16 million, enabling pursuits like its treasury and AI expansion. In a major strategic milestone, Phoenix announced the official rollout of its digital asset treasury strategy, making it the first ADX-listed company to do so. The Group's active treasury, valued at over $150 million, mainly consists of Bitcoin and Solana, with 514 BTC and more than 630,000 SOL held as part of its long-term reserve. 'Phoenix has always been more than just a mining company. We're a conviction-led digital infrastructure group,' said Munaf Ali, CEO and Co-Founder of Phoenix Group. 'Holding Bitcoin and other strategic digital assets isn't just about exposure. It's about alignment. We believe in the long-term value these networks represent, and our treasury strategy reflects that belief'. Additionally, the quarter saw Phoenix's share price rise by over 72% from April to June, placing it among the top five most traded and best-performing stocks on the Abu Dhabi Securities Exchange. The momentum has continued into Q3, with gains of 110% to date. The Company also reported a non-cash loss of $29 million, largely due to revaluations in its digital asset portfolio and a one-time depreciation adjustment under revised accounting standards. With recent price recoveries in key holdings such as Solana, Phoenix anticipates a partial rebound in asset valuations in Q3 and beyond. AI & HPC Outlook Looking ahead, Phoenix is accelerating the buildout of its AI and HPC vertical. A feasibility study is currently underway to repurpose part of its U.S. infrastructure into a dedicated multi-use compute facility. In parallel, the Company is actively evaluating several strategic locations globally to identify markets where infrastructure upgrades or redeployments could rapidly expand its AI and HPC footprint. 'We are building toward 1 gigawatt of hybrid infrastructure by 2027, and we see a clear path to get there,' added Ali. 'As we move forward, we see strategic opportunities to consolidate underutilized infrastructure globally. Many smaller operators are stuck with land and power they can't convert into meaningful compute. Phoenix's execution speed and platform model give us a distinct edge to acquire and upgrade these assets for AI ahead of the broader market'. As it enters its next phase of growth, Phoenix Group is focused on delivering capital-efficient expansion, scaling its AI/HPC infrastructure, and further developing its digital asset treasury, all while maintaining its leadership as the largest Bitcoin miner in the MENA region and a global leader in the industry. About Phoenix Group Phoenix Group is a multi-billion-dollar global technology leader headquartered in Abu Dhabi, UAE. As a top 10 Bitcoin miner globally, it drives digital asset adoption through innovation, sustainability, and excellence. It operates facilities in the UAE, U.S., Canada, Oman, and Ethiopia with over 500 megawatts capacity, and is the region's first crypto conglomerate listed on ADX, running MENA's largest mining farm. For media inquiries: Rose Perinchery media@
Business Wire
23-06-2025
- Business
- Business Wire
WhiteHawk Completes Acquisition of PHX
PHILADELPHIA--(BUSINESS WIRE)--WhiteHawk Income Corporation (together with WhiteHawk Energy, LLC and their respective subsidiaries, 'WhiteHawk' or the 'Company') announced today that it has completed the acquisition of PHX Minerals Inc. ('PHX') (NYSE: PHX). Following completion of the previously announced tender offer, WhiteHawk completed the acquisition of PHX on June 23, 2025 through a merger pursuant to the Agreement and Plan of Merger, dated as of May 8, 2025, by and among WhiteHawk Merger Sub, Inc. ('Merger Sub'), WhiteHawk Acquisition, Inc. ('Parent') and PHX. In connection with the merger, each share of PHX common stock (other than shares owned by PHX or any subsidiary of PHX, shares owned by Parent, Merger Sub or any of their respective affiliates, restricted shares held by directors, officers, and employees of PHX, and shares held by stockholders of PHX who have properly demanded and perfected the right to appraisal under Delaware law with respect to such shares) has been converted automatically into the right to receive the same consideration payable pursuant to the tender offer of $4.35 per share, net to the seller in cash, without interest and subject to any applicable tax withholding. Upon completion of the merger, PHX became a wholly owned subsidiary of Parent, a wholly-owned subsidiary of WhiteHawk Income Corporation. Shares of PHX ceased trading prior to the open of the market on June 23, 2025 and will be delisted from the New York Stock Exchange. About WhiteHawk Energy, LLC WhiteHawk Energy, LLC is focused on acquiring mineral and royalty interests in top-tier natural gas resource plays, including the Marcellus Shale and Haynesville Shale. The management team at WhiteHawk Energy has successfully grown over $13 billion of minerals, midstream, and exploration and development companies over the last 20 years. WhiteHawk Energy currently manages approximately 3,100,000 gross unit acres within core operating areas of the Marcellus Shale, Haynesville Shale and the SCOOP/STACK play in Oklahoma, with interests in more than 10,000 producing wells. Please go to for more information. About PHX Minerals Inc. PHX Minerals is a natural gas and oil mineral company with a strategy to proactively grow its mineral position in its core focus areas. PHX owns mineral acreage principally located in Oklahoma, Texas, Louisiana, North Dakota and Arkansas. Additional information on the Company can be found at Cautionary Statement Regarding Forward-Looking Statements This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Statements concerning general economic conditions, our financial condition, including our anticipated revenues, earnings, cash flows or other aspects of our operations or operating results, and our expectations or beliefs concerning future events; and any statements using words such as 'believe,' 'expect,' 'anticipate,' 'plan,' 'intend,' 'foresee,' 'should,' 'would,' 'could,' 'may,' 'estimate,' 'outlook' or similar expressions, including the negative thereof, are forward-looking statements that involve certain factors, risks and uncertainties that could cause PHX's actual results to differ materially from those anticipated.
Business Wire
21-06-2025
- Business
- Business Wire
WhiteHawk Completes Tender Offer for Acquisition of PHX
PHILADELPHIA--(BUSINESS WIRE)--WhiteHawk Income Corporation (together with WhiteHawk Energy, LLC and their respective subsidiaries, 'WhiteHawk' or the 'Company') announced that a majority of the outstanding shares of common stock, par value $0.01666 per share (the 'Shares'), of PHX Minerals Inc. ('PHX') (NYSE: PHX) were validly tendered and the other conditions to the tender offer have been satisfied. WhiteHawk anticipates the acquisition of PHX will be consummated by WhiteHawk in accordance with, and subject to the terms of, the definitive agreement for the acquisition on Monday, June 23, 2025. Computershare Trust Company, N.A., the depositary for the tender offer, has indicated that as of 12:00 Midnight, Eastern time, at the end of June 20, 2025, approximately 28,806,761 total Shares, or 73.7% of the total Shares issued and outstanding, have been tendered into and not properly withdrawn from the tender offer. This figure does not include 50,315 Shares tendered pursuant to the guaranteed delivery procedures set forth in the Offer to Purchase. When the 50,315 Shares tendered pursuant to the guaranteed delivery procedures are included in the results, approximately 28,857,076 total Shares, or 73.8% of the total Shares issued and outstanding, will have been tendered into and not properly withdrawn from the tender offer. About WhiteHawk Energy, LLC WhiteHawk Energy, LLC is focused on acquiring mineral and royalty interests in top-tier natural gas resource plays, including the Marcellus Shale and Haynesville Shale. The management team at WhiteHawk Energy has successfully grown over $13 billion of minerals, midstream, and exploration and development companies over the last 20 years. WhiteHawk Energy currently manages approximately 1,350,000 gross unit acres within core operating areas of the Marcellus Shale and Haynesville Shale, with interests in more than 3,400 producing horizontal wells. Please go to for more information. About PHX Minerals Inc. PHX Minerals is a natural gas and oil mineral company with a strategy to proactively grow its mineral position in its core focus areas. PHX owns mineral acreage principally located in Oklahoma, Texas, Louisiana, North Dakota and Arkansas. Additional information on the Company can be found at Cautionary Statement Regarding Forward-Looking Statements This document contains certain forward-looking statements about WhiteHawk and PHX, including statements that involve risks and uncertainties concerning WhiteHawk's proposed acquisition of PHX, anticipated customer benefits and general business outlook. When used in this document, the words 'anticipates,' 'can,' 'will,' 'look forward to,' 'expected' and similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements. Any such statement may be influenced by a variety of factors, many of which are beyond the control of WhiteHawk or PHX, that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this document due to a number of risks and uncertainties. Potential risks and uncertainties include, among others, (i) the possibility that the transaction will not close or that the closing may be delayed, (ii) the anticipated synergies of the combined companies may not be achieved after closing, (iii) the combined operations may not be successfully integrated in a timely manner, if at all, (iv) general economic conditions in regions in which either company does business, and (v) the possibility that WhiteHawk or PHX may be adversely affected by other economic, business, and/or competitive factors. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of WhiteHawk or PHX. In addition, please refer to the documents that PHX files with the U.S. Securities and Exchange Commission (the 'SEC') on Forms 10-K, 10-Q and 8-K. These filings identify and address other important factors that could cause PHX's operational and other results to differ materially from those contained in the forward-looking statements set forth in this document. You are cautioned to not place undue reliance on forward-looking statements, which speak only as of the date of this document. Neither WhiteHawk nor PHX is under any duty to update any of the information in this document. Additional Information about the Acquisition and Where to Find It This document is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell shares of PHX, nor is it a substitute for the tender offer materials that WhiteHawk and its acquisition subsidiary will file and have filed with the SEC relating to the tender offer. The tender offer is being made pursuant to a tender offer statement on Schedule TO (including the Offer to Purchase, a related Letter of Transmittal and other offer materials) filed by WhiteHawk with the U.S. Securities and Exchange Commission ('SEC') on May 22, 2025, as amended from time to time. In addition, on May 22, 2025, PHX filed a Solicitation/Recommendation statement on Schedule 14D-9 with the SEC related to the tender offer. The tender offer materials (including an Offer to Purchase, a related Letter of Transmittal and certain other tender offer documents) and the Solicitation/Recommendation Statement contain important information. Holders of shares of PHX are urged to read these documents The Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, as well as the Solicitation/Recommendation Statement, have been made available to all holders of shares of PHX at no expense to them. The tender offer materials and the Solicitation/Recommendation Statement are available for free at the SEC's web site at In addition to the Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, as well as the Solicitation/Recommendation Statement, PHX files annual, quarterly and special reports and other information with the SEC. You may read and copy any reports or other information filed by PHX at the SEC public reference room at 100 F Street, N.E., Washington, D.C. 20549. Please call the Commission at 1-800-SEC-0330 for further information on the public reference room. PHX's filings with the SEC are also available to the public from commercial document-retrieval services and at the website maintained by the SEC at
Yahoo
20-05-2025
- Business
- Yahoo
University of Phoenix COO Joins PHX East Valley Partnership Annual Meeting
Raghu Krishnaiah shares insights on artificial intelligence, education and the future of work PHOENIX, May 20, 2025--(BUSINESS WIRE)--University of Phoenix is pleased to announce that Chief Operating Officer Raghu Krishnaiah participated in the 43rd annual meeting of the PHX East Valley Partnership. Themed "AI and the Future of Work," the event took place Tuesday, May 20, at the ASU Mix Center in Mesa, Arizona, with University of Phoenix serving as a presenting sponsor. The event attracts hundreds of business executives, policymakers and community stakeholders from throughout the region. "Artificial intelligence is transforming the career landscape and redefining the skills today's workforce needs to succeed," said Krishnaiah. "This transformation calls for continued innovation in how we prepare individuals for long-term career success. At University of Phoenix, we view AI as an amplifier that strengthens our commitment to empowering working adults, employers, workforce organizations and other learning institutions with the tools, confidence and adaptability they need to thrive in today's economy." Hosted by the PHX East Valley Partnership, the annual meeting brings together civic, business, education, health care and political leaders focused on promoting economic growth in East Valley cities. Krishnaiah delivered a presentation titled "Education, AI, and the Future of Work," and participated in a panel discussion alongside other regional leaders. Panelists explored the role of artificial intelligence, education and upskilling in building the local talent pipeline, supporting business growth, and enhancing quality of life for East Valley residents. The discussion addressed emerging opportunities and challenges in the evolving workforce landscape. The East Valley region is home to a diverse range of employers, including manufacturers, autonomous and electric vehicle companies, small businesses and entrepreneurial ventures. According to the U.S. Census Bureau, Phoenix remains the nation's fifth-largest city, while Vintage 2024 estimates show several East Valley cities are among the fastest-growing in the country over both one-year and four-year periods. Learn more about the event and PHX East Valley Partnership here. About University of Phoenix University of Phoenix innovates to help working adults enhance their careers and develop skills in a rapidly changing world. Flexible schedules, relevant courses, interactive learning, skills-mapped curriculum for our bachelor's and master's degree programs and a Career Services for Life® commitment help students more effectively pursue career and personal aspirations while balancing their busy lives. For more information, visit View source version on Contacts MEDIA CONTACT: Michele MitchumUniversity of Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
