27-8-2025 – Blockchain analytics firm Arkham Intelligence has identified approximately 6,300 BTC, valued at $740 million, as holdings of the United Arab Emirates government, accumulated through mining since 2022. The reserves, linked to Citadel Mining—a publicly listed company majority-owned by the Abu Dhabi-based Royal Group via the International Holding Company—mark the first public labeling of the UAE’s on-chain Bitcoin addresses.
Unlike leading holders such as the United States (198,000 BTC), China (194,000 BTC), and the United Kingdom (61,000 BTC), which primarily acquired assets through law enforcement seizures, the UAE’s strategy relies on direct mining output. Citadel, in partnership with Phoenix Group, operates a large facility on Al Reem Island in Abu Dhabi, completed in six months, where it has mined around 9,300 BTC total.
This positions the UAE as the fourth-largest sovereign Bitcoin holder, ahead of nations like El Salvador, and supports its push to become a blockchain hub through regulatory incentives and energy-efficient operations. The approach diversifies the country’s treasury beyond oil, aligning with broader investments like a $534 million stake in a Bitcoin ETF by Abu Dhabi’s sovereign wealth fund.
