The UAE becomes the world's fourth largest Bitcoin reserve holder through domestic mining, holding 6,300 Bitcoins worth over $700 million

 The UAE becomes the world's fourth largest Bitcoin reserve holder through domestic mining, holding 6,300 Bitcoins worth over $700 million



International crypto intelligence agency Arkham Intelligence revealed on August 25 that the UAE holds about 6,300 Bitcoins (valued between $700 million and $740 million) through domestic mining, making it the world's fourth largest Bitcoin reserve holder. These Bitcoins are mined directly by Citadel Mining, a publicly listed company controlled by the Abu Dhabi Royal Group, rather than purchased on the open market, marking the UAE as the first country to build a Bitcoin reserve through "sovereign mining."  

Comments

Post a Comment

Popular posts from this blog

Unveiling Dubai's New Tourist Trails in the Historic Market

Image
 Unveiling Dubai's New Tourist Trails in the Historic Market Dubai's new tourist trails unveil the historic market Dubai's past and present converge once again through an exciting development project in the Deira district. With an investment of 9.5 million dirhams from the Dubai Municipality, three new tourist trails have been established, leading visitors on a 1.8-kilometer journey through the historic souks. This project aims to preserve and highlight Dubai's cultural heritage while providing a modern and comfortable tourism experience. Three Themed Routes in Old Dubai Center At the heart of this development are three main routes: one along the Gold Souk, one beside the Al Ahmadiya School, and another near the Spice Souk. These paths connect seven different traditional markets, including those for perfumes, carpets, textiles, kitchenware, and household goods. The entire development area covers 25,800 square meters, with over 500 shops operating within, making it one o...
Read more