Phoenix Group Adds 52 Megawatts of Bitcoin Mining Capacity in Ethiopia, Increasing Total Global Operational Capacity to Over 500 Megawatts
- An additional capacity improves the diversified and global scale of Phoenix, strengthening its position as a world class leader in Bitcoin exploitation.
Abu Dhabi, United Arab Emirates – (Business Wire) –Phoenix Group PLC (ADX: PHX), a world pioneer in cryptocurrency, blockchain and a new generation digital asset infrastructure company, obtained an additional 52 MW mining capacity in Ethiopia. This expansion increases the total operational capacity of the company in the country to 132 MW and increases its global capacity to more than 500 MW in five countries, strengthening the position of the Phoenix group as one of the 10 best bitcoin minors in the world.
Munaf Ali, CEO and co-founder of Phoenix Group, said:
“The Phoenix group quickly became a main force among the 10 best companies for Bitcoins extraction, a testimony of our strategic foresight in securing the locations of choice with abundant and low -cost energy and our operational excellence motivated by vertical integration and advanced technology. Pivot steps, not only creating a significant value today, but also consolidating our position at the forefront of this dynamic world industry for the years to come. »»
Earlier this year, the Phoenix group has marked its entry into Ethiopia with a 80 MW electricity purchase contract (PPA)Laining the basics of effective, low -cost and sustainable operations in a strategically significant region. The newly secure 52 MW site will be developed in two phases. Phase 1 will offer 20 MW of capacity, activating 5,300 high efficiency mining units with an expected outing of 1.2 EH / S. Phase 2Setted for completion by the end of T2 2025, add additional 32 MW, using Hydroelectricity cooling technology. Once fully operational, the total owner rate of the site should double 2.4 EH / S.
Reza Nedjatian, CEO of Phoenix Mining, IA & Data Centers, added:
“With 132 MW which now operates on clean hydroelectricity, we are proud to define a new reference for durable mining in Africa and to deliver large -scale operations in regions rich in energy.”
The Ethiopian operations of the Phoenix group are among the most sustainable in the world's operation of Bitcoin, with 90% of their energy from renewable hydroelectricity via the Large dam of the Ethiopian Renaissance. This development of clean energy reflects the group's commitment to responsible growth and the progression of energy -concerned practices in its world mining portfolio.
About the Phoenix group
Phoenix Group is a world technological leader of several billion dollars whose head office is based in Abu Dhabi, the United Arab Emirates. Founded in 2017, the company quickly grew up and established a global presence, with a diverse portfolio in the blockchain, crypto and technology sectors.
As one of the ten best bitcoin minors in the world, the Phoenix group hosts innovation, sustainability and operational excellence, making digital assets progress and the adoption of blockchain. The Phoenix group operates mining water, United States, Canada, Oman and Ethiopia installations, totaling more than 500 MW.
The Phoenix group is the first Crypto and Blockchain company in the Middle East registered with the Abu Dhabi Securities Exchange (ADX) and operates the largest mining farm in the MENA region.
Social networks
X (Twitter): @phoenixgroupuae
Linkedin: Phoenix Water Group
Website: phoenixgroupuae.com
Source:: Aetoswire
Contacts
Phoenix Group Plc Media Team:
Rose Perinchery – Media@phoenixgroupuae.com
DGA group:
Humza vanderman / James Styles – phoenixgroupuae@dgagroup.com
