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Phoenix

In a game-changing move for the Middle East's crypto and blockchain sector, Phoenix Group has announced its upcoming Initial Public Offering (IPO) on the Abu Dhabi Securities Exchange (ADX). This marks the first time a privately-owned crypto and blockchain entity will be listed on a Middle East stock exchange, according to <a href="https://www.zawya.com/en/press-release/companies-news/phoenix-group-gears-up-for-a-landmark-initial-public-offering-ipo-on-the-abu-dhabi-securities-exchange-h9dt6pod">zawya</a>. 
This ambitious endeavor aims to put Abu Dhabi at the forefront of the global tech landscape, aligning with Abu Dhabi's Economic Vision 2030. As a result, the listing is expected to attract attention from local, regional, and international investors. 
Phoenix Group specializes in high-performance computing, crypto and cloud mining, data center <a href="https://ultramining.com/news/en/bitcoin-mining-reshaping-landscape-amid-global-interest-surge/">hosting</a>, and crypto trading. With a robust installed capacity of 725 MW spanning the UAE, <a href="https://ultramining.com/news/en/moscow-resident-ordered-to-pay-870-000-rubles-for-illegal-mining-farm-electricity-use/">Oman</a>, the <a href="https://ultramining.com/news/en/major-bitcoin-mining-pool-foundry-usa-to-introduce-fee-structure/">US</a>, <a href="https://ultramining.com/news/en/alberta-stanovitsya-centrom-majninga-v-kanade-2/">Canada</a>, and CIS countries, the company stands as a powerhouse in the industry. Furthermore, the firm is the exclusive distributor for <a href="https://ultramining.com/news/en/samsungs-3nm-tech-powers-microbts-crypto-miner-marking-commercial-leap-for-gaa-process/">MicroBT</a> <a href="https://ultramining.com/news/en/immersion-cooling-transforms-chinas-crypto-mining-landscape/">mining equipment</a> across multiple markets including the GCC, Egypt, Turkey, and Kenya. 
Beyond their operational prowess, Phoenix Group has also been a key player in forming joint ventures with Citadel, the Middle East's largest Bitcoin mining operation, and Bitzero, an ESG-compliant <a href="https://ultramining.com/news/en/riot-battles-texas-heat-to-produce-410-btc-and-stabilize-energy-grid/">self-mining</a> company based in Vancouver. The group also founded M2, a regulated digital asset exchange and marketplace in the UAE. 
In a joint statement, the co-founders expressed that this IPO is more than just a milestone; it's a declaration of their commitment to a future where technology knows no borders. They envision a digital ecosystem that touches every life, business, and community across the globe.

Phoenix Group Set to Make History with IPO on Abu Dhabi Securities Exchange

Ultramining_Eng

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