Phoenix Group Launches $150M Crypto Treasury on ADX

Phoenix Group, a publicly listed Bitcoin mining and digital asset infrastructure company on the Abu Dhabi Securities Exchange (ADX), has established a $150 million strategic cryptocurrency reserve comprising 514 Bitcoin (BTC) and 630,000 Solana (SOL) tokens, becoming the first ADX-listed company to formalize such a digital asset treasury. The firm reported $29 million in revenue for Q2 2025, mining 336 BTC globally with a 31% gross margin on self-mining and a 14% reduction in energy costs, while its share price surged over 72% from April to June 2025. Despite a $29 million non-cash loss due to one-time accounting revaluations, Phoenix Group remains almost debt-free with $16 million in liabilities and anticipates partial recovery in asset valuations driven by recent price improvements in holdings like Solana. CEO Munaf Ali emphasized that the treasury reflects a conviction-led, long-term investment strategy aligning with evolving financial landscapes, moving beyond mere market exposure. The company is also expanding its AI and high-performance computing infrastructure, aiming to build 1 gigawatt of hybrid infrastructure by 2027, highlighting its diversification beyond mining operations. This strategic reserve and operational growth underscore Phoenix Group's commitment to integrating digital assets into its core financial operations amid increasing institutional adoption of cryptocurrencies.