Phoenix Group Q3 2025 Results: Revenue Up 10%, Treasury Hits 682 BTC & 642K SOL
Phoenix Group, an IHC portfolio company and a global leader in blockchain and digital asset infrastructure, announced Q3 2025 results, highlighting revenue growth, operational efficiency, and progress on AI and high-performance computing (HPC) initiatives.
Q3 2025 Financial and Operational Highlights
- Revenue surged 10% quarter-over-quarter to $32 million, driven by a 6% increase in self-mining activity.
- Adjusted EBITDA climbed 154% to $960,000, supported by higher Bitcoin market prices and improved energy efficiency.
- Self-mining margins expanded to 46%, up from 31% in Q2.
- 305.5 BTC mined, including 194.9 BTC from self-mining operations.
- Operational treasury grew to 682 BTC and over 642,000 SOL tokens as of September 30, 2025, highlighting disciplined liquidity and long-term value creation.
- Active recruitment of AI specialists and upskilling programs for internal teams.
- Global expansion continues, with new sites under negotiation across the U.S. and other strategic regions.
Phoenix maintained a steady 10.8 EH/s hashrate contribution to the global Bitcoin network, navigating a 17% increase in global difficulty and temporary power curtailments at its Citadel facility. New capacity of 62 MW in Ethiopia and 44 MW in North America is expected to drive further growth in Q4, with an additional 90 MW scheduled for 2026, bringing the total projected self-mining hashrate to approximately 13 EH/s by Q1 2026.
Munaf Ali, Co-Founder and Group CEO of Phoenix Group, highlighted that Q3 reflects both operational strength and the foundation for the company’s next growth phase: “Our focus is on scaling toward 1 GW of capacity while advancing AI and HPC operations. The infrastructure we’ve built is evolving into a global platform where intelligent energy drives innovation and turns power into progress.”
During the quarter, Phoenix sold 100 BTC to fund growth and expansion activities, maintaining a strong operational treasury of 682 BTC and over 642,000 SOL tokens, demonstrating a strategic balance between liquidity and long-term value creation.
Strategic Optimization and AI Transition
Phoenix recorded a one-time, non-cash impairment of $48.5 million related to the strategic reallocation of its South Carolina operations — part of a broader plan to prioritize high-yield, energy-efficient sites. This reallocation enhances margins and unlocks capital for future high-return projects.
The company is also advancing its expansion pipeline, with negotiations underway for multiple new sites in the U.S. and other key regions, representing an additional 200 MW of future capacity.
Aligned with the global surge in demand for compute power, Phoenix is now leveraging its existing infrastructure to host AI and HPC workloads, marking a strategic evolution from Bitcoin mining to next-generation compute operations.
