UAE Bitcoin Mining Giant Makes Bold Move into the US Market
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Phoenix Group, a crypto company based in the UAE, is pushing hard to get into the US market. In a recent news release, the company said that its newest 50MW Bitcoin mining facility in North Dakota was now fully operational. News sources say that this new mining plant can boost the company’s current hash rate by up to 2.7 exahashes. The new crypto mining center has cutting-edge technologies and a better layout to make it work better and faster. The North Dakota project is Phoenix Group’s second crypto-mining facility in the country. The group’s first was a 25MW crypto mining facility in South Carolina. Phoenix Group’s second mining facility was finished in record time, reflecting the company’s leadership in the industry, particularly in designing and managing highly efficient digital asset infrastructure. Securing the blockchain, one hash at a time.Phoenix Group proudly energizes its cutting-edge 50MW mining facility in North Dakota. Completed in under 5 months, this engineering marvel adds 2.7 exahashes to our capacity. As Munaf Ali, CEO of Phoenix Group, states, “This is a… pic.twitter.com/5FGLtgIGsB — Phoenix Group (@phoenixgroupuae) January 6, 2025 Phoenix Group Adds A Canadian Facility Currently registered on the Abu Dhabi Securities Exchange, Phoenix Group is among the leading crypto miners worldwide. It boasts a presence in the US, UAE, and Canada and is building the region’s biggest Web 3.0 ecosystem. One of its latest projects was launching its 20-megawatt crypto mining facility in Canada. With the site’s completion, it added 700PH and has the lowest electricity price at 0.039 USD within the Phoenix Group’s fleet, with over 97% uptime. BTC is now trading at $95,679. Chart: TradingView The construction of another mining facility in North Dakota reinforces the company’s commitment to crypto and blockchain technology. According to Reza Nedjatian, the company’s CEO for Global Mining…
Filed under: News - @ January 8, 2025 5:19 pm