Crypto Mining Giant's IPO Plan In UAE, Community Expecting More Crypto Rush
Phoenix’s IPO Discussions In UAE As a retailer of cryptocurrency mining hardware, Phoenix Technology is currently developing one of the Middle East’s largest mining facilities. If all goes as speculated, the company could be listed as soon as this year. However, sources caution that discussions are still ongoing, and details concerning the IPO ’s timeline and size remain flexible. advertisement It’s interesting that Phoenix’s plans to list coincide with a larger UAE effort to establish itself as a major cryptocurrency hub. Industry titans including Binance Holdings Ltd., OKX, and Bybit have been drawn by pro-crypto policies. Local cryptocurrency users think that the UAE’s business-friendly infrastructure is superior to that of the US when it comes to cryptocurrencies. According to Bloomberg, Phoenix operates more than 700 megawatts of power across the US, Canada, Europe, and the Middle East. In order to establish itself as a to...