UAE-based BTC miner Phoenix pivots to AI infrastructure for Europe

The great AI pivot: Abu Dhabi-based Phoenix Group has just landed its first AI-focused data center contract (pdf) as part of its planned pivot from BTC mining to building large‑scale AI and high‑performance computing (HPC) infrastructure. The first buildout will be an 18 MW data center in Lyon, France, and Phoenix Group’s France-based partner, DC Max, has already secured the necessary land and grid access for the project.

“AI and HPC infrastructure is where the majority of our capital and focus is directed going forward,” Founder and CEO Munaf Ali tells EnterpriseAM, describing it as an “evolution” given the foundations already built with BTC mining. The plan would see the company develop a 1 GW platform across the GCC and Europe.

The right conditions are here: “AI infrastructure demand is outpacing supply globally,” he tells us. “The window to establish strong positions, with the right sites, power, and partnerships is open now, and we have the operational capability and balance sheet to move, so we are moving,” Ali adds.

SOUND SMART- BTC mining as a business is essentially built “around power procurement, large-scale compute, cooling, and the ability to energize facilities at speed… and those are exactly the capabilities” that the AI and HPC markets demand,” he explains.

Tap or click here to go deeper into what’s next for Phoenix in EnterpriseAM UAE.