4 days ago
Global crypto infrastructure Phoenix Group delivers solid financial performance in H1-25
Abu Dhabi - Phoenix Group shifted to net losses attributable to shareholders valued at $182.76 million in the first half (H1) of 2025, against net profits of $122.28 million.
Meanwhile, the revenues plummeted to $60.39 million in H1-25 from $120.13 million in the same period a year earlier, according to the financial statements.
Basic and diluted loss per share amounted to $0.03 in the first six months (6M) of 2025, versus earnings per share (EPS) valued at $0.02 in H1-24.
Results for Q2
In the second quarter (Q2) of 2025, the net losses attributable to shareholders of Phoenix amounted to $29.17 million, against profits of $56.13 million in Q2-24.
The revenues shrank to $29.13 million in April-June 2025 from $51.20 million a year earlier.
Phoenix Group mined 336 Bitcoins in Q2-25, which includes 214 Bitcoins that were self-mined.
Munaf Ali, CEO and Co-Founder of Phoenix Group, said: 'We are building toward 1 gigawatt of hybrid infrastructure by 2027, and we see a clear path to get there.'
Ali continued: '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.'
In Q1-25, Phoenix Group reported consolidated revenues of $31.26 million, while the gross profit totaled $6.30 million.
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