UAE Bitcoin Miner Signs Order Worth Over $380 Million With Microbt

Phoenix Group PLC, a Bitcoin mining company based in the United Arab Emirates (UAE), has signed an order worth more than $380 million with Microbt, a mining rig manufacturer. As part of the agreement, Phoenix Group PLC will receive mining equipment valued at $136 million, with an additional option worth $246 million.

Microbt to integrate hydro-cooling miners, which is a significant milestone towards Phoenix Group’s goal of creating High-Performance Computing (HPC) data centres. The UAE-based bitcoin miner is also collaborating with Microbt to integrate hydro-cooling miners, which is a significant milestone towards Phoenix Group’s goal of creating High-Performance Computing (HPC) data centres. Bijan Alizadehfard, the co-founder and CEO of Phoenix Group PLC, described the collaboration with Microbt as a reflection of his company’s strategic foresight.

“This collaboration with Whatsminer [Microbt] is a milestone for Phoenix Group, reflecting our strategic foresight and commitment to pioneering in the tech industry. Our successful listing on the ADX has further empowered us to pursue such significant partnerships, enhancing our capabilities in the blockchain and cryptocurrency sector,” Alizadehfard said.

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