Phoenix Group Energizes 50MW Facility in North Dakota, USA, Adding Over 2.7 EH to Global Hashrate
Abu Dhabi, United Arab Emirates – 6th Janurary 2025, UAE’s multi-billion dollar tech conglomerate, Phoenix Group PLC, listed on the Abu Dhabi Securities Exchange (ADX: PHX), proudly announces the energization of its cutting edge 50MW mining facility in North Dakota. The site, completed in record time, underscores the company’s position as a frontrunner in delivering large-scale, high-performance digital asset infrastructure.
Fully operational, the site will contribute an impressive addition of more than 2.7 exahashes (EH) to Phoenix's global hash rate. This expansion significantly strengthens the company’s capacity to secure the blockchain network and underscores its commitment to innovation and scalability. This is an initial step in expanding Phoenix Group’s UAE mining capabilities and investments in the United States.
" The investment and opening of the Dakota site is an important step in our strategy to grow our mining capacity globally and in the United States in 2025 and beyond. Building and energizing a 50MW site in less than 5 months is a testament to the extraordinary capability of our engineering and operations teams. This milestone reflects the speed, precision, and innovation that set Phoenix Group apart in the competitive Bitcoin mining industry. " said Munaf Ali, CEO of Phoenix Group.
Reza Nedjatian, Chief Executive Officer of Phoenix Group’s Global Mining Operations, added:" The United States has always been a key hub for our mining operations and the opening of the Dakota site is another major step in Phoenix Group expanding its investment in this key market. ”
The North Dakota site represents a strategic milestone in Phoenix's mission to scale its operations sustainably and efficiently. The new facility leverages advanced technologies and optimized designs to maximize energy efficiency and performance, reinforcing the company’s leadership in the fast-evolving blockchain space.
As the energization process continues, Phoenix remains committed to operational excellence and advancing the adoption of blockchain technology worldwide.
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