Abu Dhabi, UAE — Phoenix Group PLC, a leading cryptocurrency conglomerate based in Abu Dhabi, has been initiated with a “Buy” rating by H.C. Wainwright & Co., a longstanding and most respected financial institutions in the United States. This endorsement underscores Phoenix Group’s strategic positioning at the forefront of cryptocurrency development in the Middle East, a region rapidly emerging as a global hub for digital assets.

H.C. Wainwright’s report sets a price target of AED 3.00 for Phoenix Group, representing a potential 75% upside from current levels. The financial institution cites the company’s diversified business model, which extends beyond bitcoin mining to include trading, software services, and investments in other crypto-centric projects, as a key factor in its robust growth outlook.

In addition, H.C. Wainwright's comprehensive report highlights Phoenix Group's unique market position, bolstered by its exclusive distribution rights for Bitmain and MicroBT mining machines across the Middle East. The report also emphasizes the company's substantial growth potential, driven by its strategic partnerships and access to significant regional capital. Phoenix is strategically positioned at the center of local sovereign capital's access to digital asset infrastructure and is expected to achieve growth rates that may surpass those of its U.S.-focused peers.

Founded in 2017, Phoenix Group has rapidly evolved into a major player in the cryptocurrency industry, with operations spanning bitcoin self-mining, hosting, and investment in crypto-related projects across the Middle East. The company's recent achievements include an oversubscribed $370 million IPO, its listing on the Abu Dhabi Securities Exchange in December 2023, and significant expansion into Oman with a $300 million, 150MW mining facility deal.

The report from H.C. Wainwright also highlights Phoenix’s impressive metrics, including nearly 3.0 Eh/s in self-mining, 4.0 Eh/s in hosting, and 8.0 Eh/s through investments, combining for a total of 15.0 Eh/s—a scale comparable to leading global players like Core Scientific. The firm’s expansion plans include an additional 400-500MW of mining capacity, expected over the next 12-18 months, positioning Phoenix Group for significant growth.

One of the key differentiators for Phoenix Group, according to H.C. Wainwright, is its advantageous location in the UAE, which offers abundant capital, a crypto-friendly regulatory environment, and favorable economic conditions, including tax exemptions and access to cutting-edge renewable energy resources. The company's integration into the region's economic fabric and its ability to leverage underutilized power infrastructure during off-peak seasons are seen as strategic advantages that could fuel its continued expansion.

Phoenix Group’s CEO, Seyed Mohammad Alizahdehfard commented, "We are thrilled to receive this recognition from such a prestigious institution as H.C. Wainwright. This not only validates our business strategy but also highlights the unique opportunities we see in the Middle East as we continue to lead in the development of digital asset infrastructure."

As Phoenix Group continues to expand its operations and secure its position as a leading player in the global cryptocurrency market, the company remains committed to leveraging its strategic advantages in the Middle East to drive growth and deliver value to its shareholders.

About Phoenix Group PLC

Phoenix Group PLC, based in Abu Dhabi, UAE, is a leading cryptocurrency conglomerate involved in bitcoin self-mining, hosting, and crypto-related investments. Founded in 2017, the company has quickly established itself as a major player in the Middle East’s rapidly growing digital asset sector. Phoenix Group is publicly traded on the Abu Dhabi Securities Exchange.

About H.C. Wainwright & Co.

H.C. Wainwright & Co. is one of the oldest financial institutions in the United States, with a history dating back to 1868. The firm provides a full range of investment banking, research, and advisory services to clients around the world, with a particular focus on emerging markets and innovative technologies.

For more information, please visit Phoenixgroupuae.com or contact:
Reannah Smith | Luna PR
reannah@lunapr.io