{"id":87155,"date":"2024-01-10T00:00:00","date_gmt":"2024-01-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/phoenix-subsidiary-buys-btc-mining-machines-from-bitmain-to-boost-hashing-power\/"},"modified":"2024-01-10T00:00:00","modified_gmt":"2024-01-10T00:00:00","slug":"phoenix-subsidiary-buys-btc-mining-machines-from-bitmain-to-boost-hashing-power","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/01\/10\/phoenix-subsidiary-buys-btc-mining-machines-from-bitmain-to-boost-hashing-power\/","title":{"rendered":"Phoenix subsidiary buys BTC mining machines from Bitmain to boost hashing power"},"content":{"rendered":"

Phoenix subsidiary buys USD 187 mn worth of BTC mining machines: <\/strong>A unit of UAE-based crypto conglomerate Phoenix Group<\/a> has bought Bitcoin mining machines from Bitmain Development<\/a> at a total cost of USD 187 mn, according to an ADX disclosure<\/a>. The acquisition will substantially boost Phoenix\u2019s hashing power substantially. <\/p>\n

Background: <\/strong>Investor appetite was strong for Phoenix\u2019s ADX debut in December, with shares soaring 35%<\/a> on the first day of trading. The company owns 23 businesses and nine mining facilities in the US, Canada, CIS, and the UAE, with a USD 2 bn crypto mining farm in the UAE, one of the largest<\/a> in the Middle East.<\/p>\n","protected":false},"excerpt":{"rendered":"

The acquisition follow\u2019s Phoenix's successful IPO in December<\/p>\n","protected":false},"author":1,"featured_media":87156,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1558],"tags":[107,7,25,60,229],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-crypto","tag-enterpriseam-uae","tag-investment-watch","tag-ma-watch","tag-phoenix-group","wpautop","entry"],"acf":{"mongo_id":"5ebddda6-5b63-4a7f-a4d5-9e0ea2aabb32","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/603.jpg","photo_position":"below","homepage_title":"","full_issue_title":"Phoenix subsidiary buys Bitcoin mining machines from Bitmain to boost hashing power","related_issue":[87143],"teaser":"The acquisition follow\u2019s Phoenix's successful IPO in December","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.6daad22e-4b9e-4b7c-ae53-cfccfcb03047.mp3"},"yoast_head":"\nPhoenix subsidiary buys BTC mining machines from Bitmain to boost hashing power - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/10\/phoenix-subsidiary-buys-btc-mining-machines-from-bitmain-to-boost-hashing-power\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Phoenix subsidiary buys BTC mining machines from Bitmain to boost hashing power\" \/>\n<meta property=\"og:description\" content=\"The acquisition follow\u2019s Phoenix's successful IPO in December\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/10\/phoenix-subsidiary-buys-btc-mining-machines-from-bitmain-to-boost-hashing-power\/\" \/>\n<meta property=\"og:site_name\" content=\"UAE\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-10T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/603.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/01\/10\/phoenix-subsidiary-buys-btc-mining-machines-from-bitmain-to-boost-hashing-power\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/01\/10\/phoenix-subsidiary-buys-btc-mining-machines-from-bitmain-to-boost-hashing-power\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Phoenix subsidiary buys BTC mining machines from Bitmain to boost hashing power\",\"datePublished\":\"2024-01-10T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/01\/10\/phoenix-subsidiary-buys-btc-mining-machines-from-bitmain-to-boost-hashing-power\/\"},\"wordCount\":115,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/01\/10\/phoenix-subsidiary-buys-btc-mining-machines-from-bitmain-to-boost-hashing-power\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/603.jpg?fit=%2C&ssl=1\",\"keywords\":[\"CRYPTO\",\"EnterpriseAM UAE\",\"INVESTMENT WATCH\",\"M&A WATCH\",\"Phoenix Group\"],\"articleSection\":[\"CRYPTO\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/01\/10\/phoenix-subsidiary-buys-btc-mining-machines-from-bitmain-to-boost-hashing-power\/\",\"url\":\"https:\/\/enterpriseam.com\/uae\/2024\/01\/10\/phoenix-subsidiary-buys-btc-mining-machines-from-bitmain-to-boost-hashing-power\/\",\"name\":\"Phoenix subsidiary buys BTC mining machines from Bitmain to boost hashing power - 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