The post Bitcoin Miner Phoenix Group launches $150M Crypto Treasury: BTC, SOL appeared on BitcoinEthereumNews.com.

Abu Dhabi-based Bitcoin miner Phoenix Group has launched a $150 million strategic cryptocurrency reserve, becoming the first publicly listed company on the Abu Dhabi Securities Exchange (ADX) to establish a digital asset treasury. The company said Thursday the reserve includes 514 Bitcoin (BTC) and 630,000 Solana (SOL), describing it as a long-term holding strategy. This makes Phoenix Group the first company listed on the ADX to establish a strategic cryptocurrency treasury, the company said in an announcement shared with Cointelegraph. “Holding Bitcoin and other strategic digital assets isn’t just about exposure. It’s about alignment,” said 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 the five most-traded and best-performing stocks on the ADX in the second quarter of 2025 after its share price rose by over 72% from April to June. Phoenix Group mining site in Abu Dhabi, UAE. Source: Phoenix Group Related: 35 companies now hold at least 1,000 Bitcoin as corporate adoption booms Increasingly more Bitcoin mining companies are considering altcoins as part of their balance sheet, signaling more institutional demand for cryptocurrencies beyond Bitcoin. Publicly listed Bitcoin mining firm BitMine Immersion Technologies became the largest Ether (ETH) treasury firm after announcing plans to acquire up to 5% of Ether’s supply. BitMine currently holds 625,000 Ether tokens, or 0.52% of the total circulating ETH supply, the firm announced on Tuesday, as part of a $1 billion stock repurchase program. Related: Satoshi-era $9.7B Bitcoin OG: Galaxy moves another $1.1B to exchanges Q2 earnings reveal revenue dip but strong long-term growth Phoenix Group reported $29 million in revenue and a total of 336 BTC mined across its global operations, including 214 BTC attributed to self-mining, during the second quarter of…

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Filed under: News - @ August 1, 2025 12:26 am