Abu Dhabi based Bitcoin mining outfit Phoenix Group PLC (ADX:PHX) has announced what the company calls a remarkable 236% year-over-year surge in Revenue for FY 2024, solidifying its position as a driving force in the global digital asset ecosystem.
Phoenix Group’s mining revenue reached $107 million in 2024, a significant leap from $32 million in 2023 and $5.4 million in 2022. This represents an astounding 1852% increase over two years. The company said that this exceptional performance underscores Phoenix Group’s strategic vision and operational excellence in a dynamic market.
Despite industry headwinds, including the Bitcoin halving and a prolonged bearish market until November 2024, Phoenix Group said it demonstrated resilience and adaptability. The company’s total gross revenue across all verticals reached $206 million. Phoenix Group’s proactive operational efficiencies and strategic initiatives,…
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