Crypto Miner Phoenix Group Purchases $187 Million in Bitcoin Mining Machines from Bitmain
On January 10th, it was reported that the cryptocurrency mining company Phoenix Group, based in the United Arab Emirates, purchased Bitcoin mining machines from Bitmain worth $187 million. Previously, in December 2023, Phoenix Group completed a $371 million IPO on the Abu Dhabi Securities Exchange (ADX) and signed a $380 million mining machine procurement contract with mining machine manufacturer Whatsminer.
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