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UAE’s Bitcoin mining firm Phoenix Group expands in US ahead of Nasdaq listing: report

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Abu Dhabi-listed Phoenix Group deepens its U.S. footprint with the opening of a 50 MW crypto mining site in North Dakota.

Phoenix Group has opened a 50 MW crypto mining facility in North Dakota, as the Abu Dhabi-based firm doubles down on its plan to expand Bitcoin (BTC) mining operations in the U.S., per an Arabian Gulf Business Insight report.

The facility will add over 2.7 exahashes to Phoenix Group’s mining arm once fully operational. Phoenix Mining chief executive Reza Nedjatian described the U.S. as a key market for the company, calling the new facility a vital step in its investment strategy. The latest expansion follows another move to strengthen its U.S. presence, as Phoenix Group previously opened a 25 MW mining facility in Willamette, South Carolina.

Founded in 2017, Phoenix Group is the largest crypto mining operator in the MENA region as it manages 765 MW of mining facilities in the U.S., Canada, and the UAE. The firm is also the distributor of MicroBT Bitcoin mining devices in countries like Egypt, Turkey, and Kenya, among others.

In October 2023, Phoenix Group became the first private crypto and blockchain company listed on the Abu Dhabi Securities Exchange. Its IPO raised $370 million, with subscriptions exceeding the initial offer by 33 times. The strong interest from retail investors also surpassed expectations by 180 times. Phoenix Group plans to list on Nasdaq by 2025 to grow its global presence, although the exact timeline is still unclear.



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Bitwise CIO Reacts As Czech Republic Mulls Bitcoin Reserve

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Matt Hougan, the Chief Investment Officer (CIO) of American asset management firm Bitwise, has reacted to the news of the Czech Republic’s strategic Bitcoin reserve plans. Having predicted earlier that nation states adoption of Bitcoin will soar this year, Hougan noted that “the dominos start to fall.”

Czech Republic Bitcoin Plans

In a CNN Prima News interview, Aleš Michl, the Governor of the Czech National Bank, revealed they are weighing how to diversify the country’s reserves with Bitcoin. However, he added that there are no active strategies in place to make this move yet.

While Michl said he favors the onboarding of Bitcoin as an asset diversifier for the Czech Republic, he said this decision is not solely his to make. He said there are seven members on the board whose say might also sway the ongoing discussion. Despite the lack of concrete plans, the Governor acknowledged that;

“Bitcoin is an interesting option for diversification against other assets.”

On his part, the Czech Republic National Bank executive said he plans to add just a few Bitcoin units with no plans to make a significant investment. This plan to make Bitcoin a strategic reserve asset aligns with the growing conversations in different nations. While Japan rejected the BTC reserve idea, different states in Switzerland continued to explore the plans.

MicroStrategy bought 258,320 BTC in 2024, and with this, the focus on the top coin has grown over the past few months. While corporate firms are looking to borrow the MicroStrategy playbook, Matt Hougan predicted that governments will firm one of the three insatiable demand sources for Bitcoin this year.

The Wait on Donald Trump Administration 

The Czech Republic is considering adopting Bitcoin as a strategic asset, marking a major advancement in the idea that started with Donald Trump. During his Presidential election campaign, Trump promised to establish a strategic Bitcoin reserve in the United States. The crypto community is now very expectant following his victory.

On his part, the President-elect is convening a crypto advisory council that will help look into the BTC strategy. Many industry leaders are in support of the plan, highlighting how it can help the country solve its growing debt challenge.

However, the economic viability and longer-term impact on the US Dollar remain a concern that might derail the plans overall. In light of this, Peter Schiff proposed USACoin as an alternative to the BTC reserve plans, as reported earlier by Coingape.

Bitcoin As Biggest Beneficiary

Amid the growing conversations around the adoption of Bitcoin, the coin has a major prospect of continuing to grow. Notably, the top five Bitcoin price predictions for 2025 peg the coin at a range of $200,000 to $500,000, hingeing on its status as a reserve in most nations’ portfolios.

Currently, the coin is down by 4.45% in 24 hours to $97,173.39. The coin dropped from a high of $102,712.48 as investors cooled off from the latest rally.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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$1 Million

From Laser Eyes to Upside-Down Pics: The New Bitcoin Campaign to Flip Gold

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Well, my dear Bitcoiners, it seems we’ve done it. The unthinkable has been thought, the improbable achieved, and the utterly ridiculous made reality: Bitcoin has surpassed $100,000! But now, as the laser eyes dim and the confetti settles, the question looms: What next?

Never fear, for Bitcoin’s restless, meme-loving army has a new mission—and it’s as ambitious as it is bonkers. Our target? Flipping gold’s market cap on its antiquated, shiny head and sending Bitcoin hurtling toward a cool $1 million per coin. Because, let’s be honest, who needs gold when you’ve got digital treasure?

A Flashback to the Laser Eyes Phenomenon

Before we dive into our latest antics, let’s take a moment to tip our hats (or perhaps don our monocles) to the #LaserEyesTill100K campaign. Back in the halcyon days of 2021, a Bitcoin enthusiast named Chairforce—yes, that’s a real person, not a Transformer—had the brilliant idea to Photoshop laser beams onto Twitter avatars. Why? Because nothing screams “financial revolution” quite like looking like a superhero in a Marvel knockoff.

The movement was a hit. Politicians joined in. Celebrities too. Even your Uncle Geoff with his dodgy internet connection managed to slap some laser eyes on his profile pic. The campaign’s goal? To keep those lasers burning bright until Bitcoin hit $100K. And three years later, in December 2024, it finally happened. For the full backstory, you can read all about it in the excellent Bitcoin Magazine piece, “The Origins of Bitcoin Laser Eyes”.

But now that Bitcoin is sitting pretty in the six-figure club, it’s time to retire the lasers (you can stop frightening the family cat now) and set our sights on a new frontier.

The New Mission: Flipping Gold

Ah, gold—the shiny, yellow relic that people have been hoarding for centuries. While it’s lovely for necklaces, teeth, and pirate treasure chests, it’s time for Bitcoin to knock it off its gilded pedestal. Currently, Bitcoin’s market cap is $2.018 trillion, a respectable 11.36% of gold’s $17.765 trillion. Not bad, but we’ve got bigger plans.

In 2024, Bitcoin’s market cap surpassed silver, which was a bit like overtaking your slower cousin in a three-legged race. But here’s the kicker: BlackRock, the financial behemoth, launched a Bitcoin ETF last year, and it’s already outperformed their Gold ETF. Yes, you read that right. The demand for Bitcoin is growing faster than a queue for free tea and biscuits.

The next step? 2025 could be the year Bitcoin flips gold’s market cap, finally proving to the world that digital trumps physical. And, of course, we need a campaign to match this monumental goal.

Introducing #PicFlipTillGoldFlip

Now, let’s talk about campaigns. After the roaring success of laser eyes, the Bitcoin community needed something fresh, bold, and devilishly simple. My first idea was #GoldGrillTill1Mill, where users would Photoshop gold teeth onto their profile pics. But then I remembered two things: 1) Not everyone has the graphic design skills of Picasso, and 2) Some of us still have nightmares about Kanye’s dental bling.

Then it hit me—KISS: Keep It Simple, Stupid. And so, the #PicFlipTillGoldFlip campaign was born. The idea is delightfully daft: flip your profile picture upside down. That’s it. No lasers, no gold teeth, no expensive software. Just rotate your image and voilà, you’re part of the movement.

This symbolizes Bitcoin’s current position below gold’s market cap. The image is upside down because Bitcoin hasn’t flipped gold—yet. But when it does, we’ll flip those images right-side up faster than you can say “store of value.”

Will You Join the Movement?

Social media campaigns like this aren’t just about having a laugh (though, let’s face it, the laughs are a bonus). They create community, spread awareness, and remind everyone that Bitcoin’s potential is, quite literally, out of this world.

The laser eyes campaign rallied Bitcoiners from $50K to $100K in just three years. The question now is: how long will it take to flip gold? One year? Two? A decade? However long it takes, the momentum is with us. Bitcoin is no longer the scrappy underdog—it’s the digital heavyweight, poised to take the crown from the king of shiny rocks.

So, dear reader, will you flip your pic for Bitcoin? Will you take part in #PicFlipTillGoldFlip and join us on this absurdly exciting journey to $1 million? Or do you have an even better idea for a campaign? If so, speak up! The Bitcoin community is always up for a bit of mischief.

Until then, I’ll see you upside down. Cheers!

#PicFlipTillGoldFlip
#FlipItForBitcoin

This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.





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Canada Can Elect The Next Bitcoin World Leader

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Canada’s Prime Minister Justin Trudeau has announced he is officially resigning from his position in office and as the Leader of the Liberal Party of Canada — effective when the party chooses his successor.

Trudeau has faced massive criticism over the last few years due to his inability to solve the housing shortages, inflation, and other economic struggles the country is facing. He has also stated that he is fighting internal battles, and therefore cannot be the best option for the country in the upcoming 2025 Canadian federal election.

Trudeau, known for his anti-Bitcoin stance alongside his other poor economic policies, said in early 2023 that his political opponent and Leader of the Conservative Party of Canada, Pierre Poilievre, was not fit for leadership because he correctly told Canadians citizens to opt out of inflation by holding bitcoin. Trudeau cherry picked data from when Poilievre said that and used it as an attempt to make holding bitcoin seem like a bad decision, stating that Canadians would have lost half of their life savings if they had bought bitcoin.

If Trudeau had been intellectually honest and able to see the bigger picture, he would have also encouraged his citizens to accumulate bitcoin as well, because bitcoin’s price has increased about 375% since Trudeau tried to make a mockery of saving in bitcoin.

Canada has their federal election coming up later this year, and they have the potential to elect the next Bitcoin world leader — Pierre Poilievre. Poilievre is a staunch Bitcoin advocate and has done the work to understand what money is. Here below is a great 10 minute speech by Poilievre on money, really showcasing his deep understanding of it. And here is another speech in which Poilievre says the “bottom line is we’re growing the money supply which causes inflation. We’re printing money to fund irresponsible government spending.”

Similar to how Trump visited PubKey in New York City to purchase burgers and drinks using the Bitcoin Lightning Network, Poilievre has also visited a local Bitcoin business to purchase food with Bitcoin. In 2023, he visited a Canadian restaurant accepting bitcoin as payment and paid in BTC for food, further showcasing his openness to embracing the asset and promoting the use of it as a medium of exchange and not just a store of value.

Bitcoiners in Canada have a chance to vote for a Prime Minister who would have sound economic policies and promote the usage of Bitcoin. If this happens, they would join the ranks of the United States, El Salvador and other countries who have leaders embracing Bitcoin and the benefits of that. Canada’s election is slated to take place on or before October 20, 2025.

I personally think that Poilievre is the best choice for Canada this election, not only because of his pro-Bitcoin stance, but because of his economic policies, freedom-oriented mindset, and rational thinking. I hope to see Canada embrace Bitcoin, and solve their economic problems caused by Trudeau and the Liberal Party of Canada’s poor mismanagement of the economy by choosing new Conservative leadership and encouraging further use of Bitcoin in the country.

So Canadians, go out and vote for Poilievre this election. This is your shot to make history and embrace the future of finance with Bitcoin.

This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.





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