Phoenix Coin Soars on Global Expansion and Stellar Revenue Performance, Plans Nasdaq Listing

Phoenix Group, a leading Bitcoin mining firm originally based in Abu Dhabi, has been making waves, expanding its mining operations globally and reporting a substantial increase in revenue. Recently, Phoenix Group successfully mined 350 Bitcoin in Q1. This was achieved by bolstering its North American operations with a Texas facility and expanding its Bitcoin mining capacity in Ethiopia by 52MW. These strategic moves partly contributed to the reported Q1 2025 revenue of $31 million and the overall revenue leap of 236% in 2024, surpassing $100 million. Plans for a Nasdaq listing in 2025 testify to the Group's robust financial performance. Phoenix's strategic partnerships are also noteworthy. This comes in the form of a collaboration with Tether to launch a stablecoin pegged to the UAE Dirham, a move that is set to facilitate trade and remittances. In addition, there is some buzz around their entry into the meme coin space with the $PHNIX token launched on XRPL. However, the XRP mascot, also a meme coin, has been showing remarkable chatter online with a recent 13% pump. A new venture into the ICO space has also gained momentum rapidly. Meanwhile, in a slightly divergent but equally intriguing development, a gold coin worth over $1300 was donated to the Salvation Army in Phoenix. The coin, whose origin remains unknown, substantially boosted holiday donations during an economic downturn.

Phoenix Coin News Analytics from Fri, 07 Sep 2012 07:00:00 GMT to Wed, 07 May 2025 14:37:34 GMT - Innovation 9 - Information 8 - Rumor -2