{"id":88012,"date":"2023-12-08T11:05:40","date_gmt":"2023-12-08T09:05:40","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=88012"},"modified":"2025-09-13T15:24:25","modified_gmt":"2025-09-13T12:24:25","slug":"phoenix-group-seals-380m-deal-with-microbt","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/phoenix-group-seals-380m-deal-with-microbt\/","title":{"rendered":"Phoenix Group seals $380m deal with MicroBT"},"content":{"rendered":"

The mining company Phoenix Group announced<\/a> that it had signed a $380 million contract with the bitcoin-mining device maker under the Whatsminer brand \u2014 MicroBT.<\/p>\n

Under the terms of the agreement, the Abu Dhabi-based company will initially purchase hydro-cooled miners worth $136 million. An additional option provides for equipment worth $246 million.<\/p>\n

According to the statement, the deal is MicroBT’s largest order in the past two years.<\/p>\n

Phoenix embarked on this step after a successful stock market listing via IPO. In November, the company reported a 33-fold oversubscription<\/a> on the securities at the close of books. On the first trading day, December 5, trading opened<\/a> at 2.25 AED<\/span> with an issue price of 1.5 AED. The price reaches<\/a> 2.5 AED at the time of writing.<\/p>\n

The UAE-based firm is already a partner of MicroBT and the exclusive regional distributor of Whatsminer.<\/p>\n

\n

“This collaboration marks an important milestone for Phoenix Group, reflecting our strategic foresight and commitment to innovation in the technology sector. The successful listing on the ADX<\/span> has given us even more opportunities to develop such important partnerships, broadening our prospects in the blockchain and cryptocurrency space,” said the co-founder and CEO Bijan Alizadeh-Fard.<\/p>\n<\/blockquote>\n

Earlier, in 2021 Phoenix stated<\/a> it had placed an order for mining equipment from Bitmain worth $650 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

The mining company Phoenix Group announced a $380 million contract with the bitcoin-mining device maker under the Whatsminer brand \u2014 MicroBT.<\/p>\n","protected":false},"author":1,"featured_media":88013,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1646,1137,1728],"class_list":["post-88012","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-abu-dhabi","tag-cryptocurrency-mining","tag-microbt"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88012","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=88012"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88012\/revisions"}],"predecessor-version":[{"id":88014,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88012\/revisions\/88014"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/88013"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=88012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=88012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=88012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}