{"id":58335,"date":"2025-08-26T12:02:33","date_gmt":"2025-08-26T12:02:33","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/uae-identified-as-holding-700m-in-bitcoin-from-mining-operations\/"},"modified":"2025-08-26T12:02:33","modified_gmt":"2025-08-26T12:02:33","slug":"uae-identified-as-holding-700m-in-bitcoin-from-mining-operations","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/uae-identified-as-holding-700m-in-bitcoin-from-mining-operations\/","title":{"rendered":"UAE identified as holding $700M in Bitcoin from mining operations"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/06\/image-78-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/06\/image-78-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/06\/image-78-smartcrop-750x375.webp\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/06\/image-78-smartcrop-363x181.webp\" type=\"image\/jpeg\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>&#13;<\/p>\n<li>According to blockchain analytics platform Arkham Intelligence, the United Arab Emirates holds about $700 million in Bitcoin.<\/li>\n<p>&#13;<\/p>\n<li>Arkham traced the mining activity to Citadel Mining, which it said was established in Abu Dhabi in 2022.<\/li>\n<p>&#13;<\/p>\n<li>Based on Arkham\u2019s report and estimates from BitBo, the UAE ranks sixth among sovereign Bitcoin holders.<\/li>\n<p>&#13;\n<\/ul>\n<p>The United Arab Emirates holds about $700 million in Bitcoin, primarily accumulated from mining operations, according to blockchain analytics platform Arkham Intelligence.<\/p>\n<p>In a post on X on Monday, Arkham said it had become one of the first to publicly identify the UAE government\u2019s wallets, estimating that they contain about 6,300 Bitcoin.<\/p>\n<div class=\"ad-banner  container  pt-1  px-0  mb-6\" data-partner=\"bitcoinpenguin\">\n        <a href=\"https:\/\/bitcoinpenguins.io\/en?utm_source=coinjournal&amp;utm_medium=banner&amp;utm_campaign=header\" target=\"_blank\" rel=\"nofollow sponsored noopener\"><br \/>\n            <img decoding=\"async\" class=\"p-0  m-0\" src=\"https:\/\/coinjournal.net\/wp-content\/themes\/c1-base\/dist\/img\/ad\/bitcoinpenguin\/en.png\"\/><br \/>\n        <\/a>\n    <\/div>\n<p>The holdings were attributed to mining conducted through Citadel Mining, a company majority owned by the government-backed International Holding Company (IHC).<\/p>\n<p>Arkham noted that, unlike the United States and the United Kingdom, where national Bitcoin holdings have largely come from police asset seizures, the UAE\u2019s reserves are linked directly to mining.<\/p>\n<p>Speculation around the country\u2019s Bitcoin exposure had previously suggested much larger reserves.<\/p>\n<p>Market rumors often placed the UAE\u2019s holdings at around 420,000 Bitcoin, worth roughly $46 billion at current prices, and allegedly sourced from seizures of illicit activity.<\/p>\n<p>Those estimates, if accurate, would have positioned the UAE as the largest sovereign Bitcoin holder globally.<\/p>\n<p>Arkham\u2019s findings, however, put the figure substantially lower.<\/p>\n<h2 class=\"wp-block-heading\">Mining operations tied to royal-linked conglomerates<\/h2>\n<p>Arkham traced the mining activity to Citadel Mining, which it said was established in Abu Dhabi in 2022.<\/p>\n<p>The firm reported that the venture was developed in collaboration with Phoenix Group, a publicly listed UAE mining company, and the IHC.<\/p>\n<p>Arkham added that it corroborated the timeline of on-chain mining activity with satellite imagery showing the construction of the facility.<\/p>\n<p>The company said on-chain transactions between Phoenix and Citadel also matched figures disclosed in official documents.<\/p>\n<p>Based on its analysis, Arkham estimated that Citadel Mining has mined a total of 9,300 Bitcoin to date.<\/p>\n<p>Citadel Mining is 85% owned by 2pointzero, a holding entity controlled by IHC.<\/p>\n<p>The IHC itself is majority owned by the UAE Royal Group, a conglomerate led by Sheikh Tahnoon bin Zayed Al Nahyan of Abu Dhabi\u2019s royal family, which holds a 61% stake.<\/p>\n<h2 class=\"wp-block-heading\">How UAE compares with other nation-states<\/h2>\n<p>Based on Arkham\u2019s report and estimates from BitBo, the UAE ranks sixth among sovereign Bitcoin holders.<\/p>\n<p>Its reserves place it behind Bhutan, which holds 11,286 Bitcoin, and ahead of El Salvador, which holds 6,246.<\/p>\n<p>The United States remains the largest holder with 198,012 Bitcoin, most of it originating from law enforcement seizures.<\/p>\n<p>China follows with 194,000, mainly stemming from its 2019 crackdown on the PlusToken scam, while the UK ranks third with 61,245.<\/p>\n<p>BitBo estimates that sovereign entities collectively hold about 517,000 Bitcoin, or 2.4% of the total circulating supply, with a total value exceeding $56 billion.<\/p>\n<p>In the corporate sector, Michael Saylor\u2019s firm MicroStrategy is cited as the largest institutional holder, with a treasury of 629,376 Bitcoin, representing about 2.9% of the supply.<\/p>\n<p>The company continues to expand its Bitcoin reserves.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/uae-identified-as-holding-700m-in-bitcoin-from-mining-operations\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) &#13; According to blockchain analytics platform Arkham Intelligence, the United Arab Emirates holds about $700 million in Bitcoin. &#13; Arkham traced the mining activity to Citadel Mining, which it said was established in Abu Dhabi in 2022. &#13; Based on Arkham\u2019s [&hellip;]<\/p>\n","protected":false},"author":3947362387,"featured_media":55136,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/58335"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362387"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=58335"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/58335\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/55136"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=58335"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=58335"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=58335"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}