United

Immutable

Phoenix

<div class="coingape"> 
 <h2 id="phoenix-s-ipo-discussions-in-uae">Phoenix’s IPO Discussions In UAE</h2> 
 <p>As a retailer of cryptocurrency mining hardware, Phoenix Technology is currently developing one of the Middle East’s largest mining facilities. If all goes as speculated, the company could be listed as soon as this year. However, sources caution that discussions are still ongoing, and details concerning the <a rel="noopener noreferrer nofollow" title="IPO" href="https://thebittimes.com/tag/ipo.html">IPO</a>’s timeline and size remain flexible.</p>  
 <div class="quads-location quads-ad90952 " id="quads-ad90952" style="float:none;text-align:center;padding:0px 0 0px 0;"> 
  <div class="ad1"> 
   <div class="advertised"> <span class="ad-placeholder">advertisement</span> 
   </div> 
  </div>  
 </div> 
 <p>It’s interesting that Phoenix’s plans to list coincide with a larger UAE effort to establish itself as a major cryptocurrency hub. Industry titans including Binance Holdings Ltd., OKX, and Bybit have been drawn by pro-crypto policies.</p> 
 <p>Local cryptocurrency users think that the UAE’s business-friendly infrastructure is superior to that of the US when it comes to cryptocurrencies. According to Bloomberg, Phoenix operates more than 700 megawatts of power across the US, Canada, Europe, and the Middle East. In order to establish itself as a top supplier of mining hardware and hosting services for extracted assets, the business is now building a $2 billion cryptocurrency mining farm in the United Arab Emirates.</p>  
 <div class="quads-location quads-ad124348 " id="quads-ad124348" style="float:none;text-align:center;padding:0px 0 0px 0;">   
 </div> 
 <p>Also Read: Immutable (IMX) Price Skyrockets 15%, Here’s Why</p>  
 <div class="quads-location quads-ad148831 " id="quads-ad148831" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="NewTrendin dsdsd m-on"> 
   <h5> 
    <svg class="inline-block w-5 ml-1 text-black _text-digg-blue" width="34" height="20" xmlns="//www.w3.org/2000/svg" viewbox="0 0 17 17" fill="currentColor"> <path fill-rule="evenodd" d="M12 7a1 1 0 110-2h5a1 1 0 011 1v5a1 1 0 11-2 0V8.414l-4.293 4.293a1 1 0 01-1.414 0L8 10.414l-4.293 4.293a1 1 0 01-1.414-1.414l5-5a1 1 0 011.414 0L11 10.586 14.586 7H12z" clip-rule="evenodd"></path> 
    </svg>Recommended Articles </h5> 
   <div class="TrendSList owl-carousel owl-relatedpostar"> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/07/27/cf35a15cb82cd1ed6fc87ff4ecbfc001.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/07/27/cf35a15cb82cd1ed6fc87ff4ecbfc001.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4"> Crypto Presale Projects For 2023 To Invest; Updated List </h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/07/25/9acafad721dcbc6c15e6daccd38017cb.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/07/25/9acafad721dcbc6c15e6daccd38017cb.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Best Crypto Exchange Affiliate Programs In 2023</h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/07/28/b31cabf387544aafba212df61a9a40a5.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/07/28/b31cabf387544aafba212df61a9a40a5.webp" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4"> Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated] </h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/07/28/e59946958a3ce000f279efb2e1b9c852.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/07/28/e59946958a3ce000f279efb2e1b9c852.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Crypto Telegram Channels List 2023 [Updated]</h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/07/27/48cfebc8a0493db9937bed5dd005ee19.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/07/27/48cfebc8a0493db9937bed5dd005ee19.webp" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Top 10 Web3 Games To Explore In 2023; Here List</h6> <span>Must Read</span> 
    </div> 
   </div> 
  </div> 
 </div> 
 <h2 id="some-regulatory-restrictions-stays">Some Regulatory Restrictions Stays</h2> 
 <p>UAE is known as one of the most crypto regulations friendly country. Coinbase is apparently focusing on the UAE while being under regulatory pressure in the USA. The nation has increased its inspection of cryptocurrency license applicants in an effort to provide proper control of a sector that has recently been marred by controversies. This action is consistent with the UAE’s efforts to remove itself off the Financial Action Task Force’s “gray list” of nations that have not done a good enough job of identifying illicit funds.</p> 
 <p>Nevertherless, UAE has been readily supporting crypto enterprises within its borders. It’s fostering the use of digital currencies across numerous sectors to stimulate wider adoption and enhance transactional volumes. With freshly updated digital asset regulations, the UAE aims to entice an influx of new investors.</p> 
 <p>Also Read: Prominent XRP Attorney Withdraws From Ripple Vs US SEC Lawsuit</p> 
</div>

Crypto Mining Giant's IPO Plan In UAE, Community Expecting More Crypto Rush

Table of Contents

TheBitTimes

Other articles published on Aug 1, 2023

Ron DeSantis Vows to End Biden’s “War on Bitcoin,” Toss CBDC Into ”Trash Can” If Elected President

FTX Plans a Potential Reboot Amidst Controversies and BALD Coin Speculations

GoMining Token: BURN & MINT PROCESS

Polygon Price Hovers At $0.70 As The Fall Reaches Its Peak

🗒 Daily Newsletter | Tuesday, Agust 1st, 2023

Is SBF secretly behind BALD? Crypto Twitter debates latest conspiracy

Join our free newsletter for daily crypto updates!