Ethereum

Bitcoin

Phoenix

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<p>Phoenix Group, an emerging leader in the cryptocurrency mining sector, <a href="https://www.globenewswire.com/news-release/2023/11/21/2783783/0/en/Phoenix-Group-s-IPO-Sees-Unprecedented-180x-Oversubscription-from-Retail-Investors-Signifying-Strong-Market-Confidence.html">has completed</a> its initial public offering (IPO) in the UAE, achieving a significant milestone in the region's financial landscape.&nbsp;</p>
<p>The offering, which concluded on Nov. 18, witnessed a 33-fold oversubscription with a particularly robust response from retail investors who oversubscribed by a whopping 180 times.</p>
<p>Bloomberg <a href="https://www.bloomberg.com/news/articles/2023-07-28/crypto-hardware-retailer-phoenix-said-in-early-talks-for-uae-ipo">broke the news</a> about Phoenix's IPO talks back in July. &nbsp; &nbsp;</p>
<h2 id="major-crypto-hub">Major crypto hub</h2>
<p>The successful completion of Phoenix Group's IPO is a pivotal moment for the UAE's burgeoning cryptocurrency sector.</p>
<p>The nation has been proactively fostering a technology-forward environment, with a keen focus on blockchain and digital currencies. This event is indicative of the increasing embrace of cryptocurrency technologies in the region.&nbsp;</p>
<h2 id="phoenix-s-recent-deals">Phoenix's recent deals&nbsp;</h2>
<p>In August, Oman's Green Data City and Abu Dhabi's <a href="https://u.today/black-phoenix-going-to-list-its-bpx-token-on-coinsbit-and-shares-details-of-its-cooperation">Phoenix Group</a> have collaborated to develop a 150MW crypto-mining farm that is expected to be operational by Q2, 2024.&nbsp;</p>
<p>The $300 million project aims to be a sustainable and significant crypto-mining data center in the region, incorporating solar shades and employing local technicians.</p>
<p>In November, crypto exchange M2 and Phoenix Group have partnered to provide Bitcoin and Ethereum investment yields backed by a 725MW Bitcoin mining operation.</p>

Bitcoin Mining Company Goes Public in UAE

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