UAE builds $700M Bitcoin stockpile, nets $344M profit

The UAE has mined over 6,300 BTC, valued up to $700M, mainly via Citadel Mining. Most coins are held, with $344M in profits after costs, showing a long-term accumulation strategy.

The United Arab Emirates has emerged as a significant force in Bitcoin mining, largely due to its collaboration with Citadel Mining. Citadel is majority-owned by the Royal Group through the International Holding Company, underscoring strong institutional backing. According to Arkham Intelligence and other sources, the UAE has mined between 6,300 and 6,786 BTC, valued at $454 million to $700 million based on current prices. Most of these coins remain in reserve, with the last major outflow recorded about four months ago. The mining operations consistently produce around 4.2 BTC daily. After deducting energy and operational expenses, the UAE's unrealized profit from its Bitcoin holdings is estimated at $344 million. This long-term accumulation strategy positions the UAE among the world's largest sovereign Bitcoin holders and highlights its leadership in the crypto-mining sector.