Phoenix Group announces Q2 2025 results
Q2 2025 Highlights:
Strategic Treasury Launch: Became the first-ever ADX-listed company to formalize a digital asset treasury, valued at over $150 million 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 to produce 110% gains from the start of April to date.
Future Growth Acceleration: Actively expanding its AI/HPC vertical to build 1 Gigawatt of hybrid infrastructure by 2027.
Operationally, the company reported $29 million in revenue and mined a total of 336 BTC across its global operations in Q2, including 214 BTC attributed to self-mining. Across the first half of 2025, the Group has mined a cumulative total of 689 BTC.
Self-mining Bitcoin revenue surged 219% over two years, rising from $13M in H1 2023 to $41.7M in H1 2025. The company continues to mine profitably, reporting a 31% gross margin on self-mining and a 14% reduction in energy costs, reinforcing its position as one of the most efficient Bitcoin miners globally.
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 strategic 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 by over 72% from April to June, placing it among the top five most traded and best-performing stocks on the Abu Dhabi Securities Exchange. The momentum has continued into Q3, with gains of 110% to date.
The Company also reported a non-cash loss of $29 million, largely due to revaluations in its digital asset portfolio and a one-time depreciation adjustment under revised accounting standards. With recent price recoveries in key holdings such as Solana, Phoenix anticipates a partial rebound in asset valuations in Q3 and beyond.
AI & HPC Outlook
Looking ahead, Phoenix is accelerating the buildout of its AI and HPC vertical. A feasibility study is currently underway to repurpose part of its U.S. infrastructure into a dedicated 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 and HPC 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'.
As it enters its next phase of growth, Phoenix Group is focused on delivering capital-efficient expansion, scaling its AI/HPC infrastructure, and further developing its digital asset treasury, all while maintaining its leadership as the largest Bitcoin miner in the MENA region and a global leader in the industry.
About Phoenix Group
Phoenix Group is a multi-billion-dollar global technology leader headquartered in Abu Dhabi, UAE. As a top 10 Bitcoin miner globally, it drives digital asset adoption through innovation, sustainability, and excellence.
It operates facilities in the UAE, U.S., Canada, Oman, and Ethiopia with over 500 megawatts capacity, and is the region's first crypto conglomerate listed on ADX, running MENA's largest mining farm.
For media inquiries:
Rose Perinchery
media@phoenixgroupuae.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
4 hours ago
- Khaleej Times
Bangladeshi expat in Dubai wins Dh20-million prize in Big Ticket Draw
As the 3rd of the month arrived yet again, UAE residents awaited Big Ticket's grand prize announcement, hoping to become a millionaire. On August 3, Sabuj, a Bangladeshi expat in Dubai, won a Dh20-million prize, with ticket number 194560, in the Big Ticket Series 277 draw. Meanwhile, six winners also took home Dh50,000 each in consolation prizes. Four lucky individuals also took home prizes up to Dh150,000 each after spinning the 'Big Win' wheel. Last month, a 43-year-old Bangladeshi electrician called Mohammed Naser Balal was named the lucky winner of a whopping Dh25 million in Big Ticket's draw. August promotions The raffle has previously announced the launch of its August grand promotion, with one lucky winner set to take home an incredible Dh15-million grand prize during the live draw on September 3. In addition to the grand prize, on the same night of the live draw, six winners will also receive consolation prizes of Dh100,000 each. Customers who buy two (or more) cash tickets in one transaction between August 1 and 25 will have a chance to be selected to attend the live draw on September 3 and win guaranteed cash prizes ranging from Dh50,000 to Dh150,000. The names of the four confirmed participants will be announced on the Big Ticket website on September 1. August's promotions are also offering a BMW M440i, with the winner to be announced on September 3. In addition, a Range Rover Velar will be given away on October 3.
Filipino Times
5 hours ago
- Filipino Times
OWWA e-Card printer to stay at MWO-Dubai even after Serbisyo Caravan
UAE-based OFWs who were unable to claim their e-Cards during the recent Serbisyo Caravan in Dubai will still be able to get their cards, as the Overseas Workers Welfare Administration (OWWA) will leave its card printer at the Migrant Workers Office (MWO). 'Huwag kayong mag-alala para sa OWWA dahil hindi lang ito isang araw lang sa Dubai. Iiwan na namin dito 'yung card printer para tuloy-tuloy lang ang pagpi-print ng OWWA e-Card dito sa Dubai,' OWWA Administrator Patricia Yvonne Caunan. Alongside the surge in National ID applications, the OWWA e-Card was among the most in-demand services during the OFW Serbisyo Caravan held at the Dubai World Trade Center on August 3. Active members of OWWA who wish to request an e-Card may complete their registration using a QR code provided by the agency. The QR code will remain available for those who missed the caravan. She added that eligible individuals can claim their e-Card anytime, even after the event. 'Anytime pwede niyong kunin, at kung hindi niyo makukuha today, kayo po ay cocontact-in ng mga tauhan ng OWWA dito sa Dubai,' she said. Thousands of attendees OWWA made the decision after thousands of Filipinos turned up at the one-day event, overwhelming the initial space at Exhibition Hall 8 of the Dubai World Trade Center and prompting organizers to expand the venue to Sheikh Rashid Hall. Caunan acknowledged the large turnout and emphasized the need for recurring caravans in the UAE. 'Hindi natin in-expect na ganito karami ang may kailangan ng serbisyo ng gobyerno dito sa Dubai. Hindi pwedeng isa o dalawang araw lang ito, kailangan ulit-ulitin ito dahil kailangan dito sa UAE dalhin ang serbisyo ng gobyerno,' Caunan said. The OWWA e-Card serves as proof of membership and can be used to access various government services and programs for overseas Filipinos.
The National
5 hours ago
- The National
Best photos of August 3: World Dog Surfing Championships to camels in China
A permit and licence is required to fly a drone legally in Dubai. Sanad Academy is the United Arab Emirate's first RPA (Remotely Piloted Aircraft) training and certification specialists endorsed by the Dubai Civil Aviation authority. It is responsible to train, test and certify drone operators and drones in UAE with DCAA Endorsement. 'We are teaching people how to fly in accordance with the laws of the UAE,' said Ahmad Al Hamadi, a trainer at Sanad. 'We can show how the aircraft work and how they are operated. They are relatively easy to use, but they need responsible pilots. 'Pilots have to be mature. They are given a map of where they can and can't fly in the UAE and we make these points clear in the lectures we give. 'You cannot fly a drone without registration under any circumstances.' Larger drones are harder to fly, and have a different response to location control. There are no brakes in the air, so the larger drones have more power. The Sanad Academy has a designated area to fly off the Al Ain Road near Skydive Dubai to show pilots how to fly responsibly. 'As UAS technology becomes mainstream, it is important to build wider awareness on how to integrate it into commerce and our personal lives,' said Major General Abdulla Khalifa Al Marri, Commander-in-Chief, Dubai Police. 'Operators must undergo proper training and certification to ensure safety and compliance. 'Dubai's airspace will undoubtedly experience increased traffic as UAS innovations become commonplace, the Forum allows commercial users to learn of best practice applications to implement UAS safely and legally, while benefitting a whole range of industries.'
