Bitcoin miner Phoenix Group buys $187 million worth of miners from Bitmain

4E Exchange debuts at Dubai Token2049, leading the new trend in the financial market

On the opening day, 4E, the world's leading one-stop financial asset trading platform, held an after party event, gathering together with investors, institutional representatives and others to discuss cutting-edge topics in the Web3 industry.

TOKEN 2049 Dubai Conference Guide

On April 18-19, 2024, the TOKEN 2049 Dubai conference co-organized by Bingx, M2, DWF LABS, ZEEBU, DOP, KUCOIN, CoinW, TRON, and telos will be held at the Madinat Jumeirah Resort in Dubai.

ElphaPex DG 1 Mining Machine Exhibited at BlockChain Life Dubai 2024

The ElphaPex brand is honored to announce that it will participate in BlockChain Life Dubai 2024 in April to officially introduce our innovative product-ElphaPex DG 1 mining machine to the media and audience.

First Round of Speakers for TOKEN2049 Dubai Revealed

TOKEN2049 Dubai will take place in the Madinat Jumeirah from April 18th-19th 2024, bringing together an estimated 7,500+ attendees from across the globe

The LinkTo Dubai Exclusive Dinner concluded successfully in Dubai, marking a milestone in Web3 innovation for short video advertising

Phoenix Group Expands Bitcoin Mining Operations with $187 Million Bitmain Purchase

Abu Dhabi-based Phoenix Group is set to acquire $187 million worth of new Bitcoin mining rigs from Bitmain Technologies, following a $380 million deal with WhatsMiner. The move aims to significantly boost Phoenix's Bitcoin hashing power, positioning the company as a major global crypto miner. The strategic expansion aligns with the recent approval of a Bitcoin exchange-traded fund (ETF) by the SEC, anticipating potential industry growth. Despite competition and profitability challenges in Bitcoin mining, Phoenix Group's aggressive approach underscores its commitment to staying competitive in the evolving sector.

Bitmain Freezes Employee Salaries Amidst Financial Turmoil

Bitmain has taken the step of suspending employee salaries, both performance-based and basic wages, in response to ongoing financial difficulties and setbacks in its mining operations.

ABC Conclave Dubai 2023 to Explore Fusion of Web2 and Web3

This is a response to the blockchain industry's rapid evolution; ABC Conclave seeks to bring together minds and projects to spur innovation and define the future of decentralised technology.

Chinese Authority Charges Mining Firm Bitmain With Tax Violations

Tax authorities penalized Bitmain on April 4 for not paying personal income taxes under China’s tax collection and administration law.

Deribit Eyes Dubai Amidst Global Expansion Plans: Report

The crypto options exchange is also looking to obtain broker licenses in UK, Brazil, and Singapore.