Phoenix Group

Performance indicators

At the end of 2022, the company received a net profit of approximately $171 million

History

2023: Going public

On November 21, 2023 mining , the Phoenix Group of UAE announced a successful holding on the initial public offering (IPO) Abu Dhabi Securities Exchange (ADX). During this procedure, approximately $370 million was raised.

Phoenix Group's 907 323 529-share offer has generated huge market interest - especially from retail investors, whose demand exceeded the total supply by 180 times, it said. Professional investors have also expressed high interest in the mining company's securities, which is said to "highlight its strong position and potential." Bidding on the ADX site will begin on December 4, 2023 under the ticker symbol PHX.

Phoenix Group announces successful IPO

As of November 2023, Phoenix Group's total mining farm capacity is 725 MW. The company is engaged hosting in mining in, and USA To Canada To Europe in the Middle East. It is noted that the farms use the latest premium technologies and equipment, which provides effective and reliable services for the extraction of cryptocurrency assets and uninterrupted operation of services. In addition to its core services, Phoenix Group sells miners and hardware wallets to retail customers, and operates the M2 crypto-investment platform in Abu Dhabi. In addition, Phoenix Group has successfully developed and implemented a number of proprietary blockchain technologies..

The huge interest in our securities is a confirmation of the company's pioneering role in cryptocurrency mining and blockchain. Investors believe in the potential of the Phoenix Group, says Bijan Alizadehfard, co-founder and CEO of the company.[1]

Notes