The United Arab Emirates (UAE) has made significant strides in Bitcoin mining, with its state-owned company, Citadel Mining, accumulating 6,786 BTC, valued at approximately $450 million. Analysts from Arkham have revealed that the UAE's unrealized profits from Bitcoin mining are estimated to be around $350 million, excluding energy expenses.
Earlier in August 2025, it was reported that the UAE held 6,300 BTC, which at that time was worth $700 million. Citadel Mining, a subsidiary of the UAE Royal Group, has been holding onto most of the Bitcoin it produces, with the last recorded outflow occurring four months ago.
The mining initiative was launched in 2022 in collaboration with Phoenix Group, which established a large data center on Al-Rim Island for this purpose. As a result of its efforts, the UAE now ranks sixth globally in terms of accumulated Bitcoin, trailing behind the USA, China, and the UK, which collectively hold 646,687 BTC, representing 3.07% of the total Bitcoin supply, valued at over $42 billion.
