Phoenix Bitcoin Treasury Pushes Company Into Global Top 50 Holders
The ADX-listed miner discloses 514 BTC and expands into AI while keeping one of the industry’s leanest balance sheets.
Abu Dhabi-based Phoenix Group (ADX: PHX) has taken a historic step by formally launching a $150 million Bitcoin and crypto treasury, becoming the first company on the Abu Dhabi Securities Exchange (ADX) to do so. With 514 BTC now disclosed, alongside more than 630,000 SOL, Phoenix joins the ranks of the world’s top 50 corporate Bitcoin holders — a milestone that positions the company firmly on the global digital asset map.
Profitable Quarter and Growing Bitcoin Reserves
Phoenix reported a profitable second quarter, generating $29 million in revenue and mining 336 BTC across its operations in the UAE, U.S., Canada, Oman, and Ethiopia. Of this, 214 BTC came from self-mining, yielding a 31% gross margin and supported by a 14% drop in energy costs — figures that underline Phoenix’s reputation as one of the world’s most efficient Bitcoin miners.
Until now, Phoenix’s public Bitcoin figure stood at just 131 BTC. But earlier this year, CEO and Co-Founder Munaf Ali told Unlock Blockchain that the actual number was “well above that.” This quarter’s treasury launch confirms his statement, revealing a strategic reserve that dwarfs the previously reported figure.
“Phoenix has always been more than just a mining company. We’re a conviction-led digital infrastructure group,” said Munaf Ali. “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.”
Market Reaction: Phoenix Stock Soars
Investor confidence has surged alongside the Phoenix Bitcoin Treasury announcement. Phoenix shares climbed 72% between April and June, placing the stock among the top performers on ADX. Since the start of April, PHX has risen 110%, driven by the company’s expanding crypto reserves, solid balance sheet, and growing reputation in the digital asset space.
Unlike many of its debt-heavy competitors, Phoenix carries just $16 million in debt, giving it a clear runway to continue scaling both its Bitcoin holdings and new ventures.
From Bitcoin Mining to AI Infrastructure
Phoenix isn’t stopping at mining or treasury management. The company is aggressively expanding into artificial intelligence and high-performance computing (HPC). A feasibility study is already underway to convert parts of its U.S. operations into multi-use compute facilities. Its goal is to reach 1 gigawatt of hybrid AI/HPC infrastructure by 2027, tapping into the growing demand for computing power.
“We are building toward 1 gigawatt of hybrid infrastructure by 2027, and we see a clear path to get there,” Ali added. “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.”
Phoenix Bitcoin Treasury Signals a Bigger Shift
By combining a landmark Bitcoin treasury, sustained mining profitability, and bold AI ambitions, Phoenix Group is reshaping what it means to be a publicly listed crypto infrastructure company in the MENA region.
With 514 BTC now locked into its reserves, Phoenix has staked its claim among the world’s biggest corporate Bitcoin holders — and its strategy comes as Bitcoin enters a historic phase, with only one million BTC left to be mined by 2026. The scarcity narrative could drive more companies to follow Phoenix’s lead and treat Bitcoin not just as an investment, but as a strategic reserve asset on their balance sheets.
