The United Arab Emirates has taken a leading position among the prominent profitable state-backed Bitcoin ($BTC) miners across the globe. In this respect, the UAE has cumulatively mined up to $453.6M in $BTC via its collaborator, Citadel Mining. As per the data from Arkham Intelligence, the UAE keeps holding most of its mined $BTC. This reportedly indicates the strategy for long-term accumulation instead of active distribution.
UAE Claims $453.6M in $BTC Holdings via Significant Output from Citadel Mining
The total amount of the UAE’s mined $BTC has touched the $453.6M mark through Citadel Mining. So, irrespective of the recently volatile market conditions, the mining operations of the UAE remain comprehensively profitable, except for energy charges. Specifically, UAE Royal Group (Citadel Mining) presently holds up to 6.782K $BTC, equaling a total amount of $453.64M at the price level of $66,891. This denotes a slight 1.13% decline over the past twenty-four hours.
Apart from that, the portfolio comprises all the funds in the form of $BTC, signifying a devoted hold strategy after mining instead of a diversified exposure to crypto assets. Additionally, the profit-and-loss trajectory presents a sheer increase in the total profit starting from mid-2033 and peaking during mid-2025 ahead of a modest pullback in line with the wider market corrections.
Long-Term $BTC Accumulation Strategy Results in $344M Profit
According to Arkham Intelligence, the balance history reveals a steady Bitcoin accumulation throughout the past 4 years. Irrespective of short-term volatility, the long-term movement shows consistent functional output as well as a disciplined treasury management. Hence, the UAE is presently in profit by almost $344M, excluding energy spending, making nation one among the top effective institutional miners worldwide. Overall, this accumulation-based strategy aligns with the UAE’s wider push to become a notable digital asset hub.
Source: https://blockchainreporter.net/uae-gains-344-million-unrealized-profit-from-bitcoin-mining/