Download PDF
Market: Abu Dhabi Symbol: PHX ISIN: AEE01357P238 Industry: Technology

Phoenix Group specializes in a range of services, from high-performance computing to crypto and cloud mining, data center hosting, crypto trading, and crypto mining products and equipment. It has also expanded its global footprint across UAE, Oman, Canada, USA and CIS countries through its four verticals and the establishment of the UAE’s first fully regulated digital asset exchange M2.

Mining
Phoenix is one of the world’s leading Bitcoin miners, with over 15 EH/s capacity, equivalent to circa 3% of the global BTC hash rate.

Hosting
Development, operations, and maintenance of specialized state-of-the-art mining facilities providing hosting services with high performance computing power for the generation of digital assets.

Trading
Phoenix has exclusive distribution rights in the Middle East and Africa for industry leading technology hardware brands and accessories (Bitcoin mining equipment and crypto-wallets).

Investments
Phoenix’ investment arm aims to expand the business by acquiring strategic and profitable businesses to add both synergies to its core business as well as making healthy contributions to its bottom line. Recent investment in M2 Exchange, Lyvely, Rekt Studios is testament to its strategic direction and support of tech innovation in UAE.

Key Figures (USD'000) 2022 2023 2024 Q4 2024
Balance Sheet        
Total assets 229,597 834,005 962,371 962,371
Total equity 106,596 697,120 891,761 891,761
Total liabilities 123,001 136,885 70,610 70,610
Income Statement        
Revenue 754,962 288,187 205,686 49,573
Gross profit 170,684 88,862 26,016 (23,995)
Net profit for the year 138,877 207,780 167,372 (2,470)
Cash Flows        
Net cash generated from/(used in) operating activities 190,214 (136,061) (64,873) (64,873)
Net cash used in investing activities (44,609) (35,054) (58,568) (58,568)
Net cash (used in)/generated from financing activities (146,176) 368,924 (54,367) (54,367)