Bitcoin miner Phoenix Group launches $150M crypto treasury for BTC, SOL

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Abu Dhabi-based Bitcoin miner Phoenix Group has launched a $150 million strategic cryptocurrency reserve, changing into the primary publicly listed firm on the Abu Dhabi Securities Exchange (ADX) to ascertain a digital asset treasury.

The firm mentioned Thursday the reserve consists of 514 Bitcoin (BTC) and 630,000 Solana (SOL), describing it as a long-term holding technique.

This makes Phoenix Group the primary firm listed on the ADX to ascertain a strategic cryptocurrency treasury, the corporate mentioned in an announcement shared with Cointelegraph.

“Holding Bitcoin and other strategic digital assets isn’t just about exposure. It’s about alignment,” mentioned Munaf Ali, co-founder and CEO of Phoenix Group. “We believe in the long-term value these networks represent, and our treasury strategy reflects that belief.”

Phoenix Group was one of many 5 most-traded and best-performing shares on the ADX within the second quarter of 2025 after its share value rose by over 72% from April to June.

Phoenix Group mining web site in Abu Dhabi, UAE. Source: Phoenix Group

Related: 35 firms now maintain at the very least 1,000 Bitcoin as company adoption booms

Increasingly extra Bitcoin mining firms are contemplating altcoins as a part of their stability sheet, signaling extra institutional demand for cryptocurrencies past Bitcoin.

Publicly listed Bitcoin mining agency BitMine Immersion Technologies turned the biggest Ether (ETH) treasury agency after asserting plans to amass as much as 5% of Ether’s provide.

BitMine at present holds 625,000 Ether tokens, or 0.52% of the entire circulating ETH provide, the agency introduced on Tuesday, as a part of a $1 billion inventory repurchase program.

Related: Satoshi-era $9.7B Bitcoin OG: Galaxy strikes one other $1.1B to exchanges

Q2 earnings reveal income dip however sturdy long-term development

Phoenix Group reported $29 million in income and a complete of 336 BTC mined throughout its international operations, together with 214 BTC attributed to self-mining, in the course of the second quarter of 2025.

This marks a 51% decline from the primary quarter, when Phoenix Group mined a cumulative 689 BTC.

Still, the miner has reported a 219% surge in self-mining Bitcoin income over two years, from $13 million within the first half of 2023 to over $41.7 million within the first half of 2025, with a 31% gross profitability margin on self-mining and a 14% discount in power prices.

Phoenix Group additionally reported $16 million value of debt and a non-cash lack of $29 million, “due to revaluations in its digital asset portfolio and a one-time depreciation adjustment under revised accounting standards.”

Phoenix mentioned it expects a partial restoration in asset valuations in Q3, pushed by rising costs of key holdings comparable to Solana.

Magazine: Bitcoin OG Willy Woo has offered most of his Bitcoin — Here’s why

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