Latest news with #PhoenixGroupPLC
Business Wire
31-07-2025
- Business
- Business Wire
Phoenix Group Announces Q2 2025 Results: Robust Mining, $150M+ Crypto Treasury Formalized, AI Expansion; Stock Price Surged 72% in Quarter
ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--Phoenix Group PLC (ADX: PHX), a pioneering global cryptocurrency, blockchain, and digital asset infrastructure company, today announced its Q2 2025 results, including formalizing a digital asset treasury valued at over $150 million. Q2 2025 Highlights: Strategic Treasury Launch: First ADX-listed company to formalize a $150M+ treasury 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 for 110% gains from April to date. Future Growth Acceleration: Expanding AI vertical toward 1 Gigawatt hybrid infrastructure by 2027. Operationally, the company reported $29 million in revenue and mined 336 BTC in Q2, including 214 BTC from self-mining. H1 2025 mining totalled 689 BTC. Self-mining revenue surged 219% from H1 2023 ($13M to $41.7M). Phoenix continues mining profitably with a 31% self-mining gross margin and 14% energy cost reduction, solidifying its efficiency as a top global Bitcoin miner. 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 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 over 72% from April to June, ranking among the top five most traded and best-performing stocks on the Abu Dhabi Securities Exchange. Momentum continues in Q3 with 110% gains to date. The company reported a $29 million non-cash loss, mainly from digital asset revaluations and a one-time depreciation adjustment. With Solana price recoveries, Phoenix anticipates partial rebound in Q3 valuations. Phoenix is accelerating the buildout of its AI vertical. A feasibility study is underway to repurpose part of its U.S. infrastructure into a 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 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.' Phoenix is entering its next growth phase, focusing on capital-efficient expansion, AI scaling, and treasury development while leading as the largest MENA Bitcoin miner and global player. About Phoenix Group Phoenix Group is an ADX-listed multi-billion-dollar infrastructure leader headquartered in Abu Dhabi, UAE. As a top-10 Bitcoin miner globally, it operates over 500 megawatts of capacity across the UAE, U.S., Canada, Oman, and Ethiopia, running the biggest mining farm in MENA.
Web Release
14-05-2025
- Business
- Web Release
The Final Pitch Dubai Unveils Powerhouse Investor-Judges
By Editor_wr On May 14, 2025 Four of Dubai's industry leaders have been named as investor-judges on the upcoming business reality TV show The Final Pitch Dubai. Bringing decades of entrepreneurial and investment expertise to the table, the panel of investor-judges represents some of the region's most accomplished trailblazers across sectors, including digital transformation, real estate, fintech, clean tech, sustainability, and early to growth stage venture capital. The lineup features Cypher Capital Founding Partner and Phoenix Group PLC Co-Founder Bijan Alizadeh; 'The Wolf of Real Estate' CEO and Managing Partner of Harbor Real Estate Dr. Mohanad Alwadiya; 'Entrepreneur turned investor turned entrepreneur' Founding Partner of Incubayt Investments Ltd. Sami Khoreibi; visionary investor, strategic government advisor, and Founder of Triliv Holdings Jigar Sagar. The Final Pitch, Asia's longest-running business reality TV show, is making its Middle East debut in Dubai. The series introduces a proven format that empowers ambitious founders through targeted mentorship by domain experts, an all-access personal tour of the investor-judges' businesses, and funding and collaboration opportunities. Tasked with evaluating high-potential pitches, the investor-judge panel will challenge founders to refine their ideas, while offering access to markets, strategic resources, and smart capital Now open for Applications: UAE Startups Invited to Pitch Applications are now open for UAE based and non-UAE based international entrepreneurs looking to pitch their business to the panel of investor-judges. Selected startup founders will gain a unique opportunity to showcase their ventures, receive hands-on mentorship and potentially secure investment. Applications can be submitted at the show's website, Deadline for submissions is on May 27, 2025. The Final Pitch 's format introduces high-caliber mentors that come in to give practical and strategic guidance to the entrepreneur contestants, while each investor-judge gets to engage directly with their shortlisted entrepreneurs by inviting them to their businesses, giving them special access to their world and inner circle. The founders receive invaluable feedback and insights from the investors themselves as they prepare to pitch in a high-stakes finale. The show, produced by award-winning production company Dragon's Nest, and supported in the UAE by its local production partner Ti22 Films – led by its CEO Reim El Houni who joins as Co-Executive Producer – will be filmed entirely in Dubai and is set to go into production in June 2025 across key locations in the city. It will exclusively air on OSN and OSN+ in Q4. 'Dubai is one of the most exciting places in the world to build and grow a business right now,' said John Aguilar, creator and host of The Final Pitch and Founder of Dragon's Nest, LLC FZ, the business and media investment firm bringing the show to the region. 'Our mission has always been to spotlight visionary founders and connect them with real opportunities for investment and mentorship. With this first UAE edition in Dubai, we aim to contribute meaningfully to the country's vision of fostering entrepreneurship, innovation and a knowledge-based economy – by helping build the next generation of business leaders.' The Final Pitch Dubai Unveils Powerhouse Investor-Judges Comments are closed.
Mid East Info
13-05-2025
- Business
- Mid East Info
The Final Pitch Dubai Unveils Powerhouse Investor-Judges - Middle East Business News and Information
Diverse panel will bring deep expertise across real estate, Web3, sustainability, digital economy, and venture capital to business reality TV show Dubai, UAE, May 2025: Four of Dubai's industry leaders have been named as investor-judges on the upcoming business reality TV show The Final Pitch Dubai. Bringing decades of entrepreneurial and investment expertise to the table, the panel of investor-judges represents some of the region's most accomplished trailblazers across sectors, including digital transformation, real estate, fintech, clean tech, sustainability, and early to growth stage venture capital. The lineup features Cypher Capital Founding Partner and Phoenix Group PLC Co-Founder Bijan Alizadeh; 'The Wolf of Real Estate' CEO and Managing Partner of Harbor Real Estate Dr. Mohanad Alwadiya; 'Entrepreneur turned investor turned entrepreneur' Founding Partner of Incubayt Investments Ltd. Sami Khoreibi; visionary investor and strategic government advisor Founder & Managing Partner of Triliv Holdings Jigar Sagar. The Final Pitch, Asia's longest-running business reality TV show, is making its Middle East debut in Dubai. The series introduces a proven format that empowers ambitious founders through targeted mentorship by domain experts, an all-access personal tour of the investor-judges' businesses, and funding and collaboration opportunities. Tasked with evaluating high-potential pitches, the investor-judge panel will challenge founders to refine their ideas, while offering access to markets, strategic resources, and smart capital Now open for Applications: UAE Startups Invited to Pitch: Applications are now open for UAE based and non-UAE based international entrepreneurs looking to pitch their business to the panel of investor-judges. Selected startup founders will gain a unique opportunity to showcase their ventures, receive hands-on mentorship and potentially secure investment. The Final Pitch 's format introduces high-caliber mentors that come in to give practical and strategic guidance to the entrepreneur contestants, while each investor-judge gets to engage directly with their shortlisted entrepreneurs by inviting them to their businesses, giving them special access to their world and inner circle. The founders receive invaluable feedback and insights from the investors themselves as they prepare to pitch in a high-stakes finale. Applications can be submitted at the show's website, Deadline for submissions is on May 27, 2025. The show, produced by award-winning production company Dragon's Nest, and supported in the UAE by its local production partner Ti22 Films – led by its CEO Reim El Houni who joins as Co-Executive Producer – will be filmed entirely in Dubai and is set to go into production in June 2025 across key locations in the city. It will exclusively air on OSN and OSN+ in Q4. 'Dubai is one of the most exciting places in the world to build and grow a business right now,' said John Aguilar, creator and host of The Final Pitch and Founder of Dragon's Nest, LLC FZ, the business and media investment firm bringing the show to the region. 'Our mission has always been to spotlight visionary founders and connect them with real opportunities for investment and mentorship. With this first UAE edition in Dubai, we aim to contribute meaningfully to the country's vision of fostering entrepreneurship, innovation and a knowledge-based economy – by helping build the next generation of business leaders.' About The Final Pitch: The Final Pitch is a business reality TV show produced by leading Asian production house Dragon's Nest (now Dragon's Nest LLC FZ in Dubai), where aspiring entrepreneurs pitch their innovative ideas to top investors and industry experts. Launched in 2017, the show has empowered the next generation of entrepreneurs by connecting emerging founders with strategic mentorship and funding opportunities – over 350 start-ups have participated, generating millions of US dollars in funding and strategic partnerships. Following its success, The Final Pitch is expanding beyond borders with The Final Pitch: Dubai , its inaugural edition in the Middle East. The series furthers its mission to foster innovation and entrepreneurship in the region. Future UAE editions are being planned for Abu Dhabi and Sharjah, and for Saudi Arabia, Oman, Qatar, and Bahrain.
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.
Associated Press
29-04-2025
- Business
- Associated Press
Phoenix Group Adds 52 Megawatts of Bitcoin Mining Capacity in Ethiopia, Increasing Total Global Operational Capacity to Over 500 Megawatts
ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--Apr 29, 2025-- 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. 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. 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. Social Media X (Twitter):@phoenixgroupuae LinkedIn:Phoenix Group UAE Website: Source: AETOSWire View source version on CONTACT: Phoenix Group PLC Media Team: Rose Perinchery –[email protected] Group: Humza Vanderman / James Styles –[email protected] KEYWORD: AFRICA ETHIOPIA UNITED ARAB EMIRATES MIDDLE EAST INDUSTRY KEYWORD: TECHNOLOGY FINANCE FINTECH OTHER ENERGY PROFESSIONAL SERVICES DIGITAL CASH MANAGEMENT/DIGITAL ASSETS BLOCKCHAIN ENERGY DATA MANAGEMENT CRYPTOCURRENCY SOURCE: Phoenix Group PLC Copyright Business Wire 2025. PUB: 04/29/2025 08:16 AM/DISC: 04/29/2025 08:16 AM
