{"id":41031,"date":"2025-04-29T17:00:13","date_gmt":"2025-04-29T14:00:13","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=41031"},"modified":"2025-04-29T14:52:44","modified_gmt":"2025-04-29T11:52:44","slug":"phoenix-group-adds-52-mw-of-bitcoin-mining-capacity-in-ethiopia","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/phoenix-group-adds-52-mw-of-bitcoin-mining-capacity-in-ethiopia\/","title":{"rendered":"Phoenix Group Adds 52 MW Of Bitcoin Mining Capacity In Ethiopia"},"content":{"rendered":"<p class=\"\" data-start=\"2966\" data-end=\"3220\"><strong data-start=\"2966\" data-end=\"2983\">Phoenix Group<\/strong> has expanded its <strong data-start=\"3001\" data-end=\"3012\">Bitcoin<\/strong> mining operations in Ethiopia with an additional <strong data-start=\"3062\" data-end=\"3083\">52 megawatts (MW)<\/strong> of capacity, bringing its total mining power in the region to <strong data-start=\"3146\" data-end=\"3156\">132 MW<\/strong>. The company\u2019s <strong data-start=\"3172\" data-end=\"3191\">global capacity<\/strong> has now exceeded <strong data-start=\"3209\" data-end=\"3219\">500 MW<\/strong>.<\/p>\n<p class=\"\" data-start=\"3222\" data-end=\"3431\">Co-founder and CEO <strong data-start=\"3241\" data-end=\"3254\">Munaf Ali<\/strong> stated that the company\u2019s strategy focuses on securing locations with <strong data-start=\"3325\" data-end=\"3357\">abundant and low-cost energy<\/strong>, with the new Ethiopian site playing a key role in long-term positioning.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/phoenix-group-adds-52-mw-of-bitcoin-mining-capacity-in-ethiopia\/#Targeting_Sustainable_Mining_With_Clean_Energy\" title=\"Targeting Sustainable Mining With Clean Energy\">Targeting Sustainable Mining With Clean Energy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/phoenix-group-adds-52-mw-of-bitcoin-mining-capacity-in-ethiopia\/#Phoenix_Now_Operates_Over_500_MW_Globally\" title=\"Phoenix Now Operates Over 500 MW Globally\">Phoenix Now Operates Over 500 MW Globally<\/a><\/li><\/ul><\/nav><\/div>\n<h2 data-start=\"3438\" data-end=\"3488\"><span class=\"ez-toc-section\" id=\"Targeting_Sustainable_Mining_With_Clean_Energy\"><\/span>Targeting Sustainable Mining With Clean Energy<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"\" data-start=\"3490\" data-end=\"3848\">The <strong data-start=\"3494\" data-end=\"3503\">52 MW<\/strong> mining facility will be developed in <strong data-start=\"3541\" data-end=\"3555\">two phases<\/strong>. The first phase uses <strong data-start=\"3578\" data-end=\"3587\">20 MW<\/strong> to power <strong data-start=\"3597\" data-end=\"3623\">5,300 air-cooled units<\/strong>, delivering around <strong data-start=\"3643\" data-end=\"3671\">1.2 exahashes per second<\/strong> of mining power. The second phase \u2014 set for completion by <strong data-start=\"3730\" data-end=\"3748\">end of Q2 2025<\/strong> \u2014 will fully utilize the <strong data-start=\"3774\" data-end=\"3783\">52 MW<\/strong>, with <strong data-start=\"3790\" data-end=\"3807\">water cooling<\/strong> and <strong data-start=\"3812\" data-end=\"3840\">2.4 exahashes per second<\/strong> output.<\/p>\n<hr \/>\n<p data-start=\"3850\" data-end=\"4069\"><strong><em>You Might Be Interested In: <a href=\"https:\/\/coinengineer.net\/blog\/elon-musk-talks-about-the-name-of-a-new-memecoin\/\">Elon Musk Talks About the Name of a New Memecoin!<\/a><\/em><\/strong><\/p>\n<hr \/>\n<p class=\"\" data-start=\"3850\" data-end=\"4069\"><strong data-start=\"3850\" data-end=\"3868\">Reza Nedjatian<\/strong>, CEO of the group\u2019s mining and AI division, emphasized that the facility is powered entirely by <strong data-start=\"3965\" data-end=\"3989\">renewable hydropower<\/strong>, highlighting a commitment to <strong data-start=\"4020\" data-end=\"4058\">sustainable large-scale operations<\/strong> in Africa.<\/p>\n<h2 data-start=\"4076\" data-end=\"4121\"><span class=\"ez-toc-section\" id=\"Phoenix_Now_Operates_Over_500_MW_Globally\"><\/span>Phoenix Now Operates Over 500 MW Globally<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"\" data-start=\"4123\" data-end=\"4400\">After going public on the <strong data-start=\"4149\" data-end=\"4188\">Abu Dhabi Securities Exchange (ADX)<\/strong> in <strong data-start=\"4192\" data-end=\"4205\">late 2023<\/strong>, Phoenix Group\u2019s IPO raised <strong data-start=\"4234\" data-end=\"4250\">$371 million<\/strong> with <strong data-start=\"4256\" data-end=\"4280\">33x oversubscription<\/strong>, reflecting strong investor demand. The company\u2019s stock quickly rose by <strong data-start=\"4353\" data-end=\"4360\">50%<\/strong>, and currently trades around <strong data-start=\"4390\" data-end=\"4399\">$7.94<\/strong>.<\/p>\n<p class=\"\" data-start=\"4402\" data-end=\"4695\">Earlier in 2024, Phoenix completed a <strong data-start=\"4439\" data-end=\"4455\">$187 million<\/strong> acquisition of <strong data-start=\"4471\" data-end=\"4499\">Bitcoin mining equipment<\/strong> in one of the industry&#8217;s largest bulk purchases. Additionally, the firm has partnered with <strong data-start=\"4591\" data-end=\"4601\">Tether<\/strong> and <strong data-start=\"4606\" data-end=\"4633\">Green Acorn Investments<\/strong> to develop a new <strong data-start=\"4651\" data-end=\"4665\">stablecoin<\/strong> pegged to the <strong data-start=\"4680\" data-end=\"4694\">UAE dirham<\/strong>.<\/p>\n<p data-start=\"4402\" data-end=\"4695\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-154464 \" src=\"https:\/\/coinmuhendisi.com\/blog\/wp-content\/uploads\/2025\/04\/phoenix-group-1.png\" alt=\"phoenix\" width=\"770\" height=\"243\" \/><\/p>\n<hr \/>\n<p data-start=\"4402\" data-end=\"4695\"><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Phoenix Group has expanded its Bitcoin mining operations in Ethiopia with an additional 52 megawatts (MW) of capacity, bringing its total mining power in the region to 132 MW. The company\u2019s global capacity has now exceeded 500 MW. Co-founder and CEO Munaf Ali stated that the company\u2019s strategy focuses on securing locations with abundant and<\/p>\n","protected":false},"author":28,"featured_media":41032,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,2],"tags":[2724,61,60,15018,15019,11026,3938,9683,15013,15017,15015,3909,144,7292,3604,15014,488,15016,118,5359],"class_list":["post-41031","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-news","tag-abu-dhabi","tag-bitcoin","tag-btc","tag-clean-energy","tag-crypto-energy-efficiency","tag-crypto-expansion","tag-crypto-mining","tag-crypto-stocks","tag-ethiopia","tag-exahash","tag-hydropower","tag-ipo","tag-mining","tag-mining-infrastructure","tag-phoenix-group","tag-renewable-energy","tag-stablecoin","tag-sustainable-mining","tag-tether","tag-uae"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Phoenix Group Adds 52 MW Of Bitcoin Mining Capacity In Ethiopia - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/phoenix-group-adds-52-mw-of-bitcoin-mining-capacity-in-ethiopia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Phoenix Group Adds 52 MW Of Bitcoin Mining Capacity In Ethiopia - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Phoenix Group has expanded its Bitcoin mining operations in Ethiopia with an additional 52 megawatts (MW) of capacity, bringing its total mining power in the region to 132 MW. 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