Phoenix Group of Abu Dhabi has created a 150 million dollar strategic reserve for digital assets. This is the company’s first time to be listed on the Abu Dhabi Securities Exchange.
According to the company, 514 Bitcoins (or Bitcoin) are included in its reserve.BTCSolana) (SOL( ), which he describes as a strategy for long-term investment.
Phoenix Group said this in an official announcement to Cointelegraph.
“Holding Bitcoin and other strategic digital assets isn’t just about exposure. It’s about alignment,” Munaf Al-Ali, CEO and cofounder of Phoenix Group. “We believe in the long-term value these networks represent, and our treasury strategy reflects that belief.”
Phoenix Group’s share price grew by 72% between April and June, making it one of five best performing stocks in the ADX for the second quarter 2025.
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Altcoins are increasingly being considered by Bitcoin mining companies as part of the balance sheet. This indicates a greater institutional demand for cryptocurrency beyond Bitcoin.
The largest Ether mining company is now publicly listed BitMine Immersion Technologies, a Bitcoin mining firm.ETHAfter announcing that it would be acquiring up to 5 percent of Ether’s supply, ) Treasury firm.
BitMine holds approximately 625,000 Ether Tokens or 0.52% the total circulating ETH Supply, according to the company announced On Tuesday, the company repurchased $1 billion worth of stock as part a program to repurchase stocks.
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Q2 earnings reveal revenue dip but strong long-term growth
Phoenix Group, in the second quarter 2025, reported $29 millions of revenue, and 336 BTC were mined globally, including 214 BTC from self-mining.
Phoenix Group’s mining activity has dropped by 51% since the beginning of Q1, when it mined cumulatively 689 BTC.
The miner reported that self-mining Bitcoin revenues grew by 219% over the course of two years. From $13 million to $41.7 million, and with a gross profit margin of 31%.
Phoenix Group has also reported debts of 16 million dollars and non-cash losses of 29 million. “due to revaluations in its digital asset portfolio and a one-time depreciation adjustment under revised accounting standards.”
Phoenix has said that it anticipates a recovery of asset values in Q3, due in part to the rising price of its key holdings, such as Solana.
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Source: cointelegraph.com
