Crypto Crypto Mining Group for Abu Dhabi 236 % of increased revenues in global expansion

The Phoenix Group recorded $ 107 million in bitcoin mining revenues for 2024, more than 230 % of jumping from 2023.

The company said that the Cryptocurrency Group, the Phoenix Group mine, had witnessed an increase in mining revenues by 236 % in 2024, reaching $ 107 million with the expansion of operations and challenges in the industry. On February 12 press releasethe Abu DhabiIts headquarters has been based on $ 32 million in 2023 and 5.4 million dollars in 2022, which reflects an increase of 1852 % over two years.

The company’s total revenues amounted to $ 206 million, with a net profit of 167 million dollars and a comprehensive income of 219 million dollars. The CEO of Phoenix Munaf Ali says the results are “a testimony to our steadfast commitment to innovation and strategic growth on a global scale.” He also described 2024 as “pivotal” for the company, with “great and enhanced expansion”.

In early January, the Phoenix Group opened a 50 -megawatt mining facility in North Dakota, as a company based in Abu Dhabi Eyes go in public On the Nasdaq Stock Exchange in 2025 to expand its emissions all over the world. Before that, the Phoenix collection opened a 25 -megawatt mining facility in Williamite, South Carolina.

The Phoenix Group was founded in 2017, and it became the first Blockchain company to be published on the stock exchange in the Middle East in October 2023. It runs more than 765 megawatts of mining facilities in the United States, Canada and the United Arab Emirates. The company is also a bitcoin mining devices in countries such as Egypt, Turkey and Kenya, among other things.