PANews reported on October 29th that Phoenix Group, an Abu Dhabi-based blockchain and digital asset infrastructure company, released its third-quarter financial results today. Revenue increased by 10% quarter-over-quarter to $32 million, and adjusted EBITDA surged 154% to $960,000, benefiting from improved self-operated mining and energy efficiency optimization. During Q3, the company mined a total of 305.5 BTC, of which 194.9 were self-mined, and held 682 BTC and approximately 642,000 SOL at the end of the period.

Phoenix maintains a stable share of 10.8 EH/s in global Bitcoin hashrate and is expanding into the Americas and Ethiopia, adding 106 MW of capacity, projected to reach 13 EH/s by 2026. The company is also advancing its AI and high-performance computing business transformation and recorded a one-time non-cash impairment of $48.5 million due to adjustments in its South Carolina operations.