Abu Dhabi-based Bitcoin miner Phoenix Group has launched a strategic cryptocurrency reserve valued at $150 million, becoming the first company listed on the Abu Dhabi Securities Exchange (ADX) to establish such a fund.
Phoenix Group Adds BTC and SOL to Balance Sheet
The digital asset treasury includes 514 Bitcoin (BTC) and 630,000 Solana (SOL) tokens, positioning Phoenix Group as a long-term believer in the value of both networks. CEO Munaf Ali stated the move is “not just about exposure — it’s about alignment,” underlining the company’s confidence in the future of decentralized finance.
Phoenix Group is now the first ADX-listed firm with a declared crypto reserve.
A Growing Trend Among Public Miners
The move reflects a broader trend of Bitcoin mining companies diversifying into altcoins. Recently, BitMine Immersion Technologies revealed it holds 625,000 Ether, representing over 0.5% of ETH’s circulating supply, making it the largest publicly listed Ether treasury holder to date.
Strong Q2 Performance Despite Lower Mining Output
Phoenix Group reported $29 million in Q2 revenue, mining 336 BTC globally. Although this is down 51% from Q1’s 689 BTC, the firm emphasized a 219% increase in self-mining revenue over the last two years — rising from $13 million in H1 2023 to $41.7 million in H1 2025.
The company reported a 31% gross profit margin on self-mining and reduced energy costs by 14%.
Despite a $29 million non-cash loss due to accounting adjustments and asset revaluation, Phoenix remains optimistic. A rebound in digital asset prices, especially Solana, is expected to lift Q3 performance.
Share Price Up Over 72% in Q2 2025
Phoenix Group shares have surged more than 72% from April to June, making it one of the top five most-traded and best-performing stocks on the ADX.
Phoenix Group’s bold move signals rising institutional confidence in cryptocurrencies beyond Bitcoin, especially as miners seek broader exposure and long-term growth.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.