Following its listing on the Abu Dhabi Securities Exchange (ADX), Middle Eastern Bitcoin mining company Phoenix Group has announced a new deal with Whatsminer, the second largest Bitcoin mining machine manufacturer.

The contract, surpassing $380 million, stands as Whatsminer’s most substantial order in the last two years, underscoring Phoenix Group’s commanding presence in the Middle East’s burgeoning tech and blockchain landscape.

A dynamic landscape

The agreement is said to involve the immediate delivery of mining equipment valued at $136 million, coupled with an additional option worth $246 million. The deal indicates Phoenix Group’s dedication to upholding its market leadership in the dynamic landscape of Bitcoin mining, especially during a period of significant excitement and growth within the industry.

As an existing partner and exclusive distributor of WhatsMiner, Phoenix Group is further advancing its position by collaborating with WhatsMiner to integrate hydro cooling miners to establish cutting-edge high-performance computing (HPC) data centers.

The successful IPO

Phoenix Group initially reported its successful IPO on Nov. 21, after which it experienced an exceptional response as subscriptions surpassed the initial offering price by 33 times.

The listing also showcased remarkable excitement by retail investors, with subscriptions exceeding expectations 180 times over.

Go to Source to See Full Article
Author: Sarah Jansen

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details