Phoenix Group Reports Strong Q2: US$150 Million Crypto Treasury, AI Push, Stock Up 72%

Phoenix Group PLC (ADX: PHX), a global cryptocurrency, blockchain, and digital asset infrastructure company, today announced its Q2 2025 financial and operational results, including formalizing a digital asset treasury valued at over US$150 million.

Q2 2025 Highlights:

• Strategic Treasury Launch: Became the first-ever ADX-listed company to formalize a digital asset treasury, valued at over US$150 million in Bitcoin and Solana.
• Operational Excellence: US$29 million revenue; mined 336 BTC in Q2 with 31% self-mining gross margin and 14% energy cost reduction.
• Market Performance: Share price surged over 72% from April to June, with momentum continuing to produce 110% gains from the start of April to date.
• Future Growth Acceleration: Actively expanding its AI/HPC vertical to build 1 Gigawatt of hybrid infrastructure by 2027.

Operationally, the company reported $29 million in revenue and mined a total of 336 BTC across its global operations in Q2, including 214 BTC attributed to self-mining. Across the first half of 2025, the Group has mined a cumulative total of 689 BTC.

Self-mining Bitcoin revenue surged 219% over two years, rising from US$13 million in H1 2023 to US$41.7 million in H1 2025. The company continues to mine profitably, reporting a 31% gross margin on self-mining and a 14% reduction in energy costs, reinforcing its position as one of the most efficient Bitcoin miners globally.

A sturdy balance sheet supports the company’s market performance. Unlike debt-heavy rivals, Phoenix is almost debt-free at US$16 million, enabling pursuits like its treasury and AI expansion.

In a major strategic milestone, Phoenix announced the official rollout of its digital asset treasury strategy, making it the first ADX-listed company to do so. The Group’s active treasury, valued at over US$150 million, mainly consists of Bitcoin and Solana, with 514 BTC and more than 630,000 SOL held as part of its long-term reserve.

“Phoenix has always been more than just a mining company. We’re a conviction-led digital infrastructure group,” said Munaf Ali, co-founder and CEO, Phoenix 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”.

Additionally, the quarter saw Phoenix’s share price rise by over 72% from April to June, placing it among the top five most traded and best-performing stocks on the Abu Dhabi Securities Exchange. The momentum has continued into Q3, with gains of 110% to date.

The company also reported a non-cash loss of US$29 million, largely due to revaluations in its digital asset portfolio and a one-time depreciation adjustment under revised accounting standards. With recent price recoveries in key holdings such as Solana, Phoenix anticipates a partial rebound in asset valuations in Q3 and beyond.

AI & HPC Outlook

Looking ahead, Phoenix is accelerating the buildout of its AI and HPC vertical. A feasibility study is currently underway to repurpose part of its U.S. infrastructure into a dedicated multi-use compute facility. In parallel, the Company is actively evaluating several strategic locations globally to identify markets where infrastructure upgrades or redeployments could rapidly expand its AI and HPC footprint.

“We are building toward 1 gigawatt of hybrid infrastructure by 2027, and we see a clear path to get there,” added Ali. “As we move forward, we see strategic opportunities to consolidate underutilized infrastructure globally. Many smaller operators are stuck with land and power they can’t convert into meaningful compute. Phoenix’s execution speed and platform model give us a distinct edge to acquire and upgrade these assets for AI ahead of the broader market.”

As it enters its next phase of growth, Phoenix Group is focused on delivering capital-efficient expansion, scaling its AI/HPC infrastructure, and further developing its digital asset treasury, all while maintaining its leadership as the largest Bitcoin miner in the MENA region and a global leader in the industry.