"Arkham Intelligence says bitcoin mining operations linked to the UAE's Royal Group are sitting on roughly $344 million in unrealized profit, excluding energy costs. Arkham attributed about 6,782 BTC to wallets connected with UAE royal-linked mining activity, valuing the holdings at approximately $453.6 million at the time of analysis. The firm said the implied profit reflects the difference between current bitcoin prices and estimated production costs, though it noted the figure does not account for electricity and operational expenses."
"Arkham's onchain data also points to a steady pace of mining output. Over the past seven days, the UAE-linked wallets produced around 4.2 BTC per day, suggesting ongoing industrial-scale operations. The analytics firm added that the UAE appears to be retaining most of its self-mined bitcoin, with the last recorded outflow from the wallets occurring roughly four months ago. The findings underscore how the UAE has pursued a different path from many other governments with large bitcoin positions."
"The UAE's mining push traces back to 2022, when Citadel Mining, an entity linked to Abu Dhabi's royal family, established large-scale operations on Al Reem Island. That same year marked a broader regional effort to attract digital asset infrastructure, supported by capital from state-connected firms. In 2023, Marathon Digital Holdings and Abu Dhabi-based Zero Two announced a joint venture aimed at developing 250 megawatts of immersion-cooled bitcoin mining capacity in the UAE."
UAE royal-linked bitcoin mining operations control about 6,782 BTC, valued near $453.6 million, implying roughly $344 million in unrealized profit before energy and operational expenses. Recent onchain output averaged about 4.2 BTC per day over the past week, indicating active, industrial-scale mining. The wallets have shown minimal outward flows, with the last recorded outflow roughly four months ago, suggesting retention of most self-mined bitcoin. Accumulation arises primarily from domestic mining rather than law-enforcement seizures. Large-scale initiatives began in 2022 with Citadel Mining on Al Reem Island and expanded in 2023 via a 250-megawatt immersion-cooled joint venture.
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