🇦🇪 **Phoenix Group from the UAE reported on its crypto reserves!**
Balance: 514 BTC and 630,000 SOL (Solana)
(Equivalent to $150M)
They are the first company listed on the ADX (Abu Dhabi) exchange to officially adopt a digital asset storage strategy as part of corporate reserves.
**Company activities:**
- BTC mining (top 10 globally, >15 EH/s, 2% of global hash rate)
- Data center hosting
- Equipment distribution (MicroBT, Ledger, CoolWallets)
- Web3 investments (M2Exchange, Lyvely, Citadel, partnership with Tether)
👉 Minor for adoption – mid-cap treasury moves fade quickly; watch SEC's 31-Jul decision on spot-SOL ETFs for institutional on-ramp impact.
