The state mining company Citadel Mining from the UAE has accumulated 6,786 BTC, valued at approximately $450 million, according to analysts at Arkham.
THE UAE MINED $450M BITCOIN
— Arkham (@arkham) February 19, 2026
The UAE has so far mined $453.6M Bitcoin through their partners Citadel. It appears that they are holding the majority of the Bitcoin they produce, with their most recent outflows 4 months ago.
Excluding energy costs, the UAE is currently in profit… pic.twitter.com/HcB2CYBQgy
Researchers estimate that, excluding electricity costs, the unrealized profit from Bitcoin mining in the United Arab Emirates is around $350 million.
Back in August 2025, Arkham reported that the country held 6,300 BTC, which were then valued at $700 million.
The majority of the coins are stored in wallets affiliated with Citadel Mining, with the last outflow recorded four months ago.
The firm is a subsidiary of UAE Royal Group, owned by members of the Abu Dhabi royal family. The mining project was launched in 2022 in partnership with Phoenix Group, which built a large data center for it on Al-Rim Island.
According to BitcoinTreasuries, the UAE government ranks sixth in terms of accumulated digital gold.
The top three are the USA (328,372 BTC), China (190,000 BTC), and the UK (61,245 BTC).
In total, these countries hold 646,687 BTC, which is 3.07% of the total supply of the first cryptocurrency, valued at over $42 billion.
Recall that in December, Tether and Circle announced they had received regulatory approvals from the Financial Services Regulatory Authority of the Abu Dhabi Global Market.