Phoenix Group is strengthening its presence in the United States with a new cryptocurrency mining facility
UAE-based technology group Phoenix Group has unveiled a new 50-megawatt cryptocurrency mining facility in North Dakota, United States.
The new location expands Phoenix Group’s capabilities and strengthens its leadership in providing digital asset infrastructure. The facility was developed in five months.
When fully operational, the site will add more than 2.7 exahashes (EH) to Phoenix’s global capacity, significantly increasing its mining processing capacity.
“The investment and opening of the Dakota site is an important step in our strategy to grow our mining capacity globally and in the US in 2025 and beyond,” said Munaf Ali, CEO of Phoenix Group.
Reza Nejatian, CEO of Phoenix Group’s global mining operations, stressed the importance of the United States as a “key hub” for the group’s mining operations.
He added: “The opening of the Dakota site is another major step in the Phoenix Group’s expansion of its investments in this key market.”
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By GlobalData
The new location reinforces the company’s sustainable growth strategy as it uses advanced technologies to maximize energy efficiency, strengthening its leadership in the blockchain space.
In July last year, a new one opened 25 MW mining facility in Willamette, South Carolina, United States. Launched in 2017, Phoenix Group operates more than ten cryptocurrency mining facilities across the US, Canada, CIS and UAE.
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