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Phoenix Group Unveils 50MW Crypto Mining Facility in North Dakota

Phoenix Group strengthens its US presence with a new 50MW Bitcoin mining facility in North Dakota.

3 min January 6, 2025

Highlights:

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Phoenix Group opens a 50MW Bitcoin mining facility in North Dakota, expanding US operations.

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The facility boosts mining output by 2.7 exahashes, enhancing global mining capabilities.

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Phoenix Group plans further growth with Nasdaq listing and increasing global crypto investments.

Phoenix Group Unveils 50MW Crypto Mining Facility in North Dakota

Phoenix Group has launched a 50 MW Bitcoin mining facility in North Dakota. This move strengthens the company’s presence in the United States and fits within a larger global expansion strategy. The new facility will increase mining output by over 2.7 exahashes.

 

Growing Presence in the US Market

 

 

The North Dakota facility is a key milestone for Phoenix Group’s US operations. Reza Nedjatian, CEO of Global Mining Operations, emphasized the importance of the United States as a central hub for mining activities.

 

CEO Munaf Ali credited the success to the skill and dedication of Phoenix Group’s engineering and operations teams. The North Dakota expansion builds on the success of a 25 MW facility already operating in South Carolina.

 

Expanding Global Reach

 

Phoenix Group, founded in 2017, has quickly become the largest crypto mining operator in the MENA region. The company operates 765 MW of mining facilities in the UAE, Canada, and the US. Phoenix also distributes Bitcoin mining devices to countries like Egypt, Turkey, and Kenya, expanding its global footprint. 

 

In October 2023, Phoenix Group made headlines by becoming the first private crypto and blockchain company listed on the Abu Dhabi Securities Exchange. The company’s IPO raised $370 million, far surpassing expectations and fueling confidence in its future.

 

The company’s US expansion comes as crypto adoption continues to rise. Phoenix also plans to list on Nasdaq by 2025 to further enhance its global reach. The North Dakota facility emphasizes Phoenix Group’s focus on energy efficiency and sustainability.

 

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