Abu Dhabi’s first listed Bitcoin mining firm, Phoenix Group, has officially created a $150 million strategic treasury, allocating value into both Bitcoin (BTC) and Solana (SOL). Via the same announcement, the firm also reported that its share price surged over 72% during Q2. The momentum continued into Q3, pushing gains to more than 110% this year.
Phoenix Group’s Crypto Treasury
The firm now holds approximately 514 BTC and over 630,000 SOL, positioning it among the players in corporate digital asset adoption in the region. Notably, during the second quarter, Phoenix mined 336 BTC, contributing to a cumulative mining output of 689 BTC in the first half of 2025.
The initiative makes Phoenix Group the first ADX-listed company to institutionalize a crypto reserve strategy, as it shifts to a balance sheet diversification approach. Via an official statement, the firm’s CEO, Munaf Ali, described the treasury move as a decision in alignment with the growth in blockchain networks. He said:
“Phoenix has always been more than just a mining company. We’re a conviction-led digital infrastructure group. Holding Bitcoin and other strategic digital assets isn’t just about exposure. It’s about alignment. We believe in the long-term value these networks represent, and our treasury strategy reflects that belief.”
Interestingly, the treasury move is one of the company’s recent transformations. The firm has recently been linked to a possible U.S. stock listing as it pivots into artificial intelligence infrastructure. Phoenix Group plans to scale its global data center capacity to enable flexibility between crypto mining operations and AI compute as demand shifts.
Corporate Crypto Treasuries Surpass $100B
Public company disclosures and blockchain research indicate that corporate crypto treasuries have now exceeded $100 billion in total holdings. Bitcoin companies alone hold over $93 billion worth of BTC, about 3.98% of its circulating supply. This week, the largest Bitcoin holder, Strategy, announced it acquired 21,021 BTC for $2.46 billion.
Ethereum treasuries have surged as well, surpassing 2.73 million ETH worth $10 billion, representing roughly 2.27% of the assets supply. BitMine Immersion Technologies stands at the top with 566,776 ETH. SharpLink Gaming ranks second, holding approximately 449,000 ETH ($1.74 billion).
Public Companies are also building Solana (SOL) treasuries, staking reserves for yield, and offering indirect Solana access through stock exposure. Corporations like DeFi Development Corp., Upexi, and Sol Strategies have become the flagship examples. Official disclosures show that these firms now hold millions of SOL as part of their treasury.
