Phoenix Group, a dominant entity in the Bitcoin mining sector, has underscored its ambition by expanding its operations in
Ethiopia and the US. A stunning 52MW increase in mining capacity was added in Ethiopia, while a new 50MW facility was announced for North Dakota. In
Q1, the group mined
350 Bitcoins, contributing to a significant surge in revenue. These lucrative expansions and operational successes have set the stage for a potential Nasdaq listing in 2025.
In tandem, the group is forging strategic partnerships. It teamed up with stablecoin heavyweight,
Tether, to launch a UAE Dirham-pegged stablecoin, marking a significant advancement in facilitating trade and remittances.
The
Phoenix Coin has also gained attention amid this expansion, carving out a niche within the competitive meme coin sector on the XRPL platform. Its token, $PHNIX, is shaping up to be a contender. Regrettably, there have also been instances of disturbing behaviour within the Phoenix community, with issues relating to a 'challenge coin' marring the organizational culture.
Phoenix Coin News Analytics from Fri, 07 Sep 2012 07:00:00 GMT to Wed, 14 May 2025 18:55:00 GMT -
Rating 5
- Innovation 7
- Information 7
- Rumor -3
