Phoenix
Group, the primary UAE-listed Bitcoin (BTC) mining firm (ADX: PHX), posted a
43% decline in quarterly income in comparison with final yr and reported a $29.2
million web loss, even because it expanded its digital asset holdings and maintained
worthwhile operations throughout its international services.
The corporate
reported $29.1 million in income for the three months ended June 30, down from
$51.2 million in the identical interval final yr. The quarterly web lack of $29.2
million contrasted sharply with a $56.1 million revenue in Q2 2024, highlighting
the challenges going through cryptocurrency miners amid risky digital asset
markets.
Phoenix’s
six-month web loss reached $182.8 million, in comparison with a $122.3 million revenue
within the first half of 2024. The losses had been primarily pushed by unrealized
losses on digital asset holdings totaling $166.1 million in the course of the first six
months of the yr.
Nevertheless,
Phoenix managed to extend its Bitcoin mining output and set up what it
calls the primary formal digital asset treasury amongst firms listed on the Abu
Dhabi Securities Alternate.
Phoenix
mined 437 Bitcoin in the course of the second quarter, together with revenue-generating
actions that produced $21.1 million in comparison with $28.5 million in Q2 2024.
The corporate’s self-mining operations generated 214 Bitcoin in the course of the quarter,
contributing to a cumulative 689 Bitcoin mined within the first half of 2025.
Digital Asset Treasury
Takes Form
The
firm’s most notable growth concerned formalizing a digital asset
treasury valued at over $150 million, primarily consisting of Bitcoin and
Solana tokens. Phoenix now holds 517 Bitcoin and greater than 610,000 Solana
tokens as a part of its long-term reserves, making it the primary ADX-listed entity
to undertake such a method.
Munaf Ali, the CEO of Phoenix
“Phoenix
has all the time been greater than only a mining firm. We’re a conviction-led digital
infrastructure group,” mentioned Munaf Ali, CEO and Co-Founder. “Holding
Bitcoin and different strategic digital belongings is not nearly publicity. It is
about alignment.”
The
treasury technique comes as Phoenix maintains comparatively low debt ranges of
$28.1 million in comparison with many rivals within the mining sector. This steadiness
sheet place has enabled the corporate to pursue enlargement alternatives
with out the leverage constraints going through different operators.
Quarterly Efficiency
Blended
Regardless of
income declines, Phoenix reported improved operational metrics in key areas.
The corporate achieved a 31% gross margin on self-mining operations and decreased
power prices by 14% in comparison with earlier durations. Nevertheless, the quarter included
a $29.2 million loss for the three-month interval, largely attributed to digital
asset revaluations and accounting changes.
When
in comparison with the primary quarter of 2025, Phoenix confirmed modest enchancment. Q1
income totaled $31.3 million, which means the second quarter represented a 7%
decline quarter-over-quarter. The corporate’s Q1 loss was considerably bigger at
$153.6 million, primarily resulting from digital asset writedowns throughout that interval.
Gear
gross sales and internet hosting companies contributed $8.1 million to Q2 income, down from
$22.7 million within the prior yr quarter. The decline displays broader trade
challenges as mining tools demand fluctuated with Bitcoin value actions
all through 2024 and early 2025.
Key Monetary Knowledge Desk:
Phoenix Group Q2 2025 Efficiency
Metric
Q2 2025
Q1 2025
YoY Change
Income (USD million)
$29.1
$31.3
-43% vs Q2 2024
Internet Loss (USD million)
-$29.2
-$153.6
vs $56.1M revenue Q2 2024
Bitcoin Mined (BTC)
437
354
+233% vs Q2 2024
Self-Mining Income
$21.1M
$20.7M
-26% vs Q2 2024
Self-Mining Gross Margin
31%
N/A
Sturdy operational effectivity
Vitality Price Discount
14%
N/A
Vital price optimization
Digital Asset Treasury
$150M+
$300.9M
First ADX-listed treasury
Complete Debt
$28.1M
$60.0M
Low leverage vs friends
Inventory Efficiency (Q2)
+72%
N/A
Prime 5 ADX performer
EBITDA (Adjusted)
$0.38M
-$1.3M
Operational enchancment
Gear Gross sales
$8.1M
$6.8M
Market softness
Internet hosting Income
$4.4M
$3.8M
Service diversification
Share Efficiency and
Market Place
Phoenix’s
inventory value rose 72% between April and June, making it one of the crucial actively
traded securities on the Abu Dhabi alternate. The rally prolonged into July, with
the corporate reporting a 110% enhance since early April.
The latest
positive aspects have coincided with a broader surge in cryptocurrencies and a brand new
all-time excessive for Bitcoin above $120,000, highlighting the direct correlation
between Phoenix’s valuation, like that of different Bitcoin miners, and momentum in
digital belongings.
The worth
enhance helped Phoenix shed its penny-stock standing, with shares buying and selling at AED
1.49 on Thursday after a 3.25% drop. Regardless of the latest appreciation, the inventory
stays down greater than 40% from its post-IPO peak.
Phoenix Group share value. Supply: Tradingview.com
The corporate can also be exploring a possible itemizing in the USA and continues to scale its Bitcoin mining operations in North America.
AI Infrastructure
Enlargement
Trying
past conventional cryptocurrency mining, Phoenix is conducting feasibility
research to transform parts of its U.S. infrastructure for synthetic
intelligence and high-performance computing functions. The corporate targets
constructing 1 gigawatt of hybrid infrastructure by 2027.
“We
see strategic alternatives to consolidate underutilized infrastructure
globally,” Ali defined. “Many smaller operators are caught with land
and energy they can not convert into significant compute.”
Phoenix
maintains its place as the biggest Bitcoin miner within the Center East and
North Africa area, although international competitors has intensified.
Phoenix
Group, the primary UAE-listed Bitcoin (BTC) mining firm (ADX: PHX), posted a
43% decline in quarterly income in comparison with final yr and reported a $29.2
million web loss, even because it expanded its digital asset holdings and maintained
worthwhile operations throughout its international services.
The corporate
reported $29.1 million in income for the three months ended June 30, down from
$51.2 million in the identical interval final yr. The quarterly web lack of $29.2
million contrasted sharply with a $56.1 million revenue in Q2 2024, highlighting
the challenges going through cryptocurrency miners amid risky digital asset
markets.
Phoenix’s
six-month web loss reached $182.8 million, in comparison with a $122.3 million revenue
within the first half of 2024. The losses had been primarily pushed by unrealized
losses on digital asset holdings totaling $166.1 million in the course of the first six
months of the yr.
Nevertheless,
Phoenix managed to extend its Bitcoin mining output and set up what it
calls the primary formal digital asset treasury amongst firms listed on the Abu
Dhabi Securities Alternate.
Phoenix
mined 437 Bitcoin in the course of the second quarter, together with revenue-generating
actions that produced $21.1 million in comparison with $28.5 million in Q2 2024.
The corporate’s self-mining operations generated 214 Bitcoin in the course of the quarter,
contributing to a cumulative 689 Bitcoin mined within the first half of 2025.
Digital Asset Treasury
Takes Form
The
firm’s most notable growth concerned formalizing a digital asset
treasury valued at over $150 million, primarily consisting of Bitcoin and
Solana tokens. Phoenix now holds 517 Bitcoin and greater than 610,000 Solana
tokens as a part of its long-term reserves, making it the primary ADX-listed entity
to undertake such a method.
Munaf Ali, the CEO of Phoenix
“Phoenix
has all the time been greater than only a mining firm. We’re a conviction-led digital
infrastructure group,” mentioned Munaf Ali, CEO and Co-Founder. “Holding
Bitcoin and different strategic digital belongings is not nearly publicity. It is
about alignment.”
The
treasury technique comes as Phoenix maintains comparatively low debt ranges of
$28.1 million in comparison with many rivals within the mining sector. This steadiness
sheet place has enabled the corporate to pursue enlargement alternatives
with out the leverage constraints going through different operators.
Quarterly Efficiency
Blended
Regardless of
income declines, Phoenix reported improved operational metrics in key areas.
The corporate achieved a 31% gross margin on self-mining operations and decreased
power prices by 14% in comparison with earlier durations. Nevertheless, the quarter included
a $29.2 million loss for the three-month interval, largely attributed to digital
asset revaluations and accounting changes.
When
in comparison with the primary quarter of 2025, Phoenix confirmed modest enchancment. Q1
income totaled $31.3 million, which means the second quarter represented a 7%
decline quarter-over-quarter. The corporate’s Q1 loss was considerably bigger at
$153.6 million, primarily resulting from digital asset writedowns throughout that interval.
Gear
gross sales and internet hosting companies contributed $8.1 million to Q2 income, down from
$22.7 million within the prior yr quarter. The decline displays broader trade
challenges as mining tools demand fluctuated with Bitcoin value actions
all through 2024 and early 2025.
Key Monetary Knowledge Desk:
Phoenix Group Q2 2025 Efficiency
Metric
Q2 2025
Q1 2025
YoY Change
Income (USD million)
$29.1
$31.3
-43% vs Q2 2024
Internet Loss (USD million)
-$29.2
-$153.6
vs $56.1M revenue Q2 2024
Bitcoin Mined (BTC)
437
354
+233% vs Q2 2024
Self-Mining Income
$21.1M
$20.7M
-26% vs Q2 2024
Self-Mining Gross Margin
31%
N/A
Sturdy operational effectivity
Vitality Price Discount
14%
N/A
Vital price optimization
Digital Asset Treasury
$150M+
$300.9M
First ADX-listed treasury
Complete Debt
$28.1M
$60.0M
Low leverage vs friends
Inventory Efficiency (Q2)
+72%
N/A
Prime 5 ADX performer
EBITDA (Adjusted)
$0.38M
-$1.3M
Operational enchancment
Gear Gross sales
$8.1M
$6.8M
Market softness
Internet hosting Income
$4.4M
$3.8M
Service diversification
Share Efficiency and
Market Place
Phoenix’s
inventory value rose 72% between April and June, making it one of the crucial actively
traded securities on the Abu Dhabi alternate. The rally prolonged into July, with
the corporate reporting a 110% enhance since early April.
The latest
positive aspects have coincided with a broader surge in cryptocurrencies and a brand new
all-time excessive for Bitcoin above $120,000, highlighting the direct correlation
between Phoenix’s valuation, like that of different Bitcoin miners, and momentum in
digital belongings.
The worth
enhance helped Phoenix shed its penny-stock standing, with shares buying and selling at AED
1.49 on Thursday after a 3.25% drop. Regardless of the latest appreciation, the inventory
stays down greater than 40% from its post-IPO peak.
Phoenix Group share value. Supply: Tradingview.com
The corporate can also be exploring a possible itemizing in the USA and continues to scale its Bitcoin mining operations in North America.
AI Infrastructure
Enlargement
Trying
past conventional cryptocurrency mining, Phoenix is conducting feasibility
research to transform parts of its U.S. infrastructure for synthetic
intelligence and high-performance computing functions. The corporate targets
constructing 1 gigawatt of hybrid infrastructure by 2027.
“We
see strategic alternatives to consolidate underutilized infrastructure
globally,” Ali defined. “Many smaller operators are caught with land
and energy they can not convert into significant compute.”
Phoenix
maintains its place as the biggest Bitcoin miner within the Center East and
North Africa area, although international competitors has intensified.
