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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Crypto Miner Phoenix Group Purchases $187 Million in Bitcoin Mining Machines from Bitmain
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