Phoenix Group signs $380 million deal with Whatsminer after ADX listing

A New Deal with Whatsminer

Middle Eastern Bitcoin mining company Phoenix Group has announced a new deal with Whatsminer, the second largest Bitcoin mining machine manufacturer. This contract, worth over $380 million, marks Whatsminer’s largest order in the past two years. The deal highlights Phoenix Group’s strong presence in the region’s tech and blockchain industry.

A Commitment to Market Leadership

The agreement includes the immediate delivery of mining equipment valued at $136 million, with an additional option worth $246 million. This demonstrates Phoenix Group’s dedication to maintaining its market leadership in Bitcoin mining. The company aims to stay ahead in the rapidly evolving landscape of the industry.

Integration of High-Performance Computing Data Centers

As an existing partner and exclusive distributor of WhatsMiner, Phoenix Group is collaborating to integrate hydro cooling miners and establish cutting-edge high-performance computing (HPC) data centers. This partnership allows for advanced technology and improved mining operations.

The Success of Phoenix Group’s IPO

Phoenix Group recently had a successful initial public offering (IPO) on the Abu Dhabi Securities Exchange. The response was exceptional, with subscriptions exceeding the initial offering price by 33 times. Retail investors also showed significant interest, surpassing expectations by subscribing 180 times over.

Hot Take: Phoenix Group Expands its Presence in Bitcoin Mining

Middle Eastern Bitcoin mining company Phoenix Group continues to strengthen its position in the industry through strategic partnerships and successful IPOs. With a new deal worth over $380 million with Whatsminer, Phoenix Group is poised for further growth and innovation. By integrating hydro cooling miners and establishing high-performance computing data centers, the company is setting itself apart as a leader in the dynamic landscape of Bitcoin mining. As interest in cryptocurrencies continues to rise, Phoenix Group’s commitment to market leadership and technological advancements positions them for continued success.