Dubai-based crypto miner Phoenix eyes IPO: Bloomberg

Phoenix Technologya company specializing in the crypto-mining and based in Dubaiis planning to make a initial public offering at United Arab Emirates.

Hardware supplier and crypto-mining operator Phoenix Technology is in talks to go public in Abu Dhabi, according to sources close to the matter quoted by Bloomberg this Friday.

Founded in 2015, Phoenix Technology manages crypto-mining operations with a total capacity of 700 MW, spread around the globe, notably in North America, Europe and the Middle East. The company is also a distributor for several hardware manufacturers.

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On its website, Phoenix states that it is currently working on the largest crypto-mining plant ever built in the world. Middle East.

Today, the region seems to be attracting major cryptocurrency mining. Earlier this year, U.S.-listed bitcoin miner Marathon Digital announced the deployment of operations in the Middle East.

At United Arab EmiratesAt the end of 2021, Dubai introduced a crypto-friendly regulatory framework and has since attracted several major exchanges.

Recently, the Kuwait issued a complete ban on cryptocurrencies, including mining activities.

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