Abu Dhabi-headquartered bitcoin miner Phoenix Group, listed on the ADX, reported strong financial and operational results for Q2 2025, highlighting the formalization of a digital asset treasury valued at over $150 million, making it the first ADX-listed company to do so. The treasury primarily consists of 514 BTC and over 630,000 SOL.
The company generated $29 million in revenue and mined 336 BTC during the quarter, achieving a 31% gross margin on self-mining and a 14% reduction in energy costs. Phoenix’s share price surged over 72% from April to June, with total gains reaching 110% since the start of April. Despite a non-cash loss of $29 million due to portfolio revaluations, the company remains nearly debt-free, positioning itself for future growth. CEO Munaf Ali emphasized the strategic importance of the treasury and the ongoing expansion into artificial intelligence and high-performance computing, aiming to build 1 gigawatt of hybrid infrastructure by 2027.