UAE-linked bitcoin mining amasses $344 million unrealized profit excluding energy costs: Arkham

Data from Arkham indicates that bitcoin mining operations linked to the UAE royal family have amassed approximately $344 million in unrealized profit, excluding energy expenses. The Gulf nation currently holds $453.6 million in mined bitcoin (BTC) via state-linked infrastructure, maintaining a steady production rate of 4.2 BTC daily. These operations trace back to Citadel Mining, tied to Abu Dhabi's royal family, established in 2022, and a 2023 joint venture with Marathon Digital Holdings. Arkham's current tracking shows the UAE Royal Group holding about 6,782 BTC, or 0.03% of total supply, and they have not moved funds in four months. The article also contrasts the UAE's holdings with other sovereign holders, noting Bhutan is actively selling its mined BTC, while the U.S. government holds the largest sovereign portfolio, primarily derived from asset seizures.

(Source：The Block)