Phoenix Group launched a $150 million crypto treasury with Bitcoin and Solana, becoming the first Abu Dhabi Securities Exchange-listed company to hold digital assets on its balance sheet.
Abu Dhabi-based Bitcoin miner Phoenix Group has launched a $150 million strategic cryptocurrency reserve, becoming the first publicly listed company on the Abu Dhabi Securities Exchange (ADX) to establish a digital asset treasury.
The company said Thursday the reserve includes 514 Bitcoin (BTC) and 630,000 Solana (SOL), describing it as a long-term holding strategy.
This makes Phoenix Group the first company listed on the ADX to establish a strategic cryptocurrency treasury, the company said in an announcement shared with Cointelegraph.
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