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UAE Government Holds 6,300 Bitcoin

Blockchain analytics firm Arkham reported that the United Arab Emirates government holds around 6,300 Bitcoin, worth approximately $740 million. The assets were generated through Citadel Mining operations rather than direct market purchases.

Citadel Mining, a publicly listed company, is majority-owned by Royal Group via International Holding Company (IHC). The firm runs an 80,000-square-meter Bitcoin mining facility on Al Reem Island, Abu Dhabi, built in 2022.

Since operations began, approximately 9,300 Bitcoin have been mined, with 6,300 currently held in government wallets. This makes the UAE the world’s fourth-largest sovereign Bitcoin holder, after the United States and the United Kingdom.

Sheikh Tahnoon bin Zayed Al Nahyan, a member of Abu Dhabi’s royal family, controls Royal Group, which owns 61% of IHC. Arkham’s research also identified Phoenix Group, another UAE-based mining company, holding Bitcoin assets worth $3.2 million.

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PDAX si Toku permit plata salariilor in stablecoins in Filipine

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