PANews reported on November 19th that, according to Cryptobriefing, data from Arkham Intelligence shows that the Royal Group, a large UAE conglomerate closely linked to the Abu Dhabi ruling family, has accumulated approximately 6,450 bitcoins through state-backed mining activities, making it one of the largest sovereign holders of bitcoins in the UAE. As of the end of August 2025, Arkham reported that the Royal Group held over 6,300 bitcoins, worth approximately $700 million. Since then, due to significant fluctuations in bitcoin prices, these holdings are currently worth approximately $590 million.

These digital assets were accumulated through Citadel Mining, a publicly listed company controlled by Emirates International Holdings. Citadel Mining operates an 80,000-square-meter mining facility in Abu Dhabi, built in 2022, developed in partnership with another Emirates-listed mining company, Phoenix Group.