UAE Phoenix Group expands its Bitcoin mining to USA

UAE Phoenix Group expands its Bitcoin mining to USA

UAE Phoenix Group PLC listed on the Abu Dhabi Securities Exchange (ADX: PHX), has launched its 50MW mining facility in North Dakota in the USA.

Fully operational, the site will contribute an impressive addition of more than 2.7 exahashes (EH) to Phoenix’s global hash rate. This is an initial step in expanding Phoenix Group’s UAE mining capabilities and investments in the United States.

“The investment and opening of the Dakota site is an important step in our strategy to grow our mining capacity globally and in the United States in 2025 and beyond. Building and energizing a 50MW site in less than 5 months is a testament to the extraordinary capability of our engineering and operations teams. This milestone reflects the speed, precision, and innovation that set Phoenix Group apart in the competitive Bitcoin mining industry,” said Munaf Ali, CEO of Phoenix Group.

Reza Nedjatian, Chief Executive Officer of Phoenix Group’s Global Mining Operations, added, “The United States has always been a key hub for our mining operations and the opening of the Dakota site is another major step in Phoenix Group expanding its investment in this key market.”

The North Dakota site represents a strategic milestone in Phoenix’s mission to scale its operations sustainably and efficiently. The new facility leverages advanced technologies and optimized designs to maximize energy efficiency and performance, reinforcing the company’s leadership in the fast-evolving blockchain space.

As the energization process continues, Phoenix remains committed to operational excellence and advancing the adoption of blockchain technology worldwide.

The group boasts a 765MW mining operation with more operations globally, and fuel growth through strategic collaborations and innovation. It also operates multiple mining facilities in the US, Canada, CIS, and the UAE, with each unique company operating in one of four distinct verticals: Mining, Hosting, Trading, and Investments.
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Ethiopia accounts for 2.5 percent of Bitcoin mining hashrate

Ethiopia accounts for 2.5 percent of Bitcoin mining hashrate

Ethiopia and its local Bitcoin mining operations now account for 2.5% of global hashrate. Bitcoin miner Kassa stated, “Bitcoin miners in Ethiopia now command 2.5% of the global hash-rate. If trends continue, according to Ethiopian Electric Power (EEP), this will more than double within one year.”

Ethan Vera, co-founder and COO of Luxor Mining, had previously noted that the EEP reports local operations already consuming 600 MW of power. By year-end, that number could rise to 1 gigawatt, representing as much as 7% of the global Bitcoin network’s hashrate.

Ethiopia’s 2.5% contribution to the global Bitcoin hash rate would place it among the top five Bitcoin mining nations, joining established leaders like the United States, China, and the Czech Republic.

Companies like Bitmain-backed BitFuFu have acquired large mining operations in Ethiopia. In addition BIT Mining has also recently entered the Ethiopian market, acquiring a 51 MW Bitcoin mine and 17,869 mining rigs for $14.3 million.

Matthew Sigel, Head of Digital Assets Research at VanEck Investment firm speaking on CNBC SquakBox noted that three new BRIC members, Argentina, UAE, and Ethiopia had begun mining Bitcoin using government resources

In November 2024, Ethiopia Electric Power (EEP), a state-owned utility, signed power purchase agreements with 25 bitcoin mining companies. These bitcoin companies are using Ethiopia’s surplus renewable energy from The Grand Ethiopian Renaissance Dam (GERD), a 6,450 MW hydropower project nearing completion on the Blue Nile in Ethiopia, located about 30 km upstream of the border with Sudan.

The Dubai DMCC Crypto Center launches metaverse

The Dubai DMCC Crypto Center launches metaverse

The Dubai Multi Commodities Centre (DMCC) has unveiled the DMCC Crypto Centre Metaverse, a significant milestone within its globally recognized Web3 ecosystem.

Developed in partnership with Infinite Reality, the Metaverse offers users an immersive experience featuring interactive gamified environments. It also provides access to specialized service clinics addressing essential topics such as banking, compliance, and insurance, enabling participants to directly engage with the DMCC Crypto Centre team.

Belal Jassoma, Director of Ecosystems at DMCC, highlighted the global potential of the metaverse market, predicting it to exceed $3.1 trillion by 2030. “The launch of the DMCC Crypto Centre Metaverse underscores Dubai’s leadership in integrating blockchain and AI technologies, showcasing a real-world use case for next-generation innovation,” he said.

This initiative aligns seamlessly with the Dubai Metaverse Strategy, which aims to position the emirate among the world’s top 10 metaverse economies. By creating a digital twin of the DMCC Crypto Centre, the project supports Dubai’s ambition to become a global hub for immersive technologies and a leader in blockchain and AI advancements.

Syrian government is not exploring a bitcoin proposal

Syrian government is not exploring a bitcoin proposal

While some news outlet announced that the Syrian government was considering a bitcoin legislation, the Founder of Bitcoin21 Arabic noted that it was not the Syrian government but a group of crypto enthusiasts who were discussing this.

Bassem, the Founder of Bitcoin21Ar noted on twitter, “To clarify Syria’s Bitcoin policy proposal: Who wrote it, and is it legitimate? First, let’s address the misinformation circulating in crypto media: NO, the transitional government has neither approved nor considered this proposal, and we do not expect them to do so anytime soon. They likely have more pressing issues to address at this time.

He further explains that the proposal is not meant to circumvent international sanctions. He stated, “We believe that sanctions should be lifted URGENTLY through legal and political processes in accordance with international law.”

In a telegram group Bassem carried out a discussion on how one could introduce a constructive Bitcoin legislation to the Syrian people after a decade of severe humanitarian and financial distress. He adds, “The idea for the proposal was my own, and it was collaboratively drafted in Arabic by everyone. . We also had a small number of Bitcoiners who provided This is a grassroots movement driven by very bright and enthusiastic Bitcoin plebs.”

As part of this evolution, we renamed the group the “Syrian Center for Economic Research” or SCER and the initiative gained unexpected momentum when Dr. Saifedean Ammous who joined the discussions.

It’s important to clarify again that this is not a government-affiliated organization or funded by any entity.

To the people who are accusing us of being terrorists, CIA, or fill in the blank, can you please be less racist? Thanks!

The SCER is a volunteer-driven initiative that hopes to bring together Syrian engineers, academics, entrepreneurs, and visionaries to learn, disseminate knowledge, and foster communication and open dialogue on economics, technology, and money.

There is no physical headquarters. They communicate through social media channels like Telegram, X, and Nostr and encourage video and audio calls.

Joins us here: https://t.me/SyrianCER

Non Syrians are welcome too 🧡

UAE blockchain platform, Promeet for monetizing content raises $3.1 million

UAE blockchain platform, Promeet for monetizing content raises $3.1 million

UAE based Promeet, a Blockchain enabled platform designed to empower creators to monetize content, has raised $3.1M in pre-seed funding.

As per the press release, the investment will be used to accelerate product development and solidify Promeet’s position as a leading platform for content monetization. By combining videos, photos, meetings, and live streaming—with a blockchain-based transactional layer into a single platform, Promeet offers creators the ability to easily get paid and interact with their audience, all in one place.

Already live and operational, Promeet has onboarded thousands of creators, offering them a seamless, frictionless way to start monetizing their content immediately. By facilitating transactions via USDC on the Polygon network, Promeet ensures that creators are paid quickly, securely, and with lower fees compared to traditional platforms.

The investment was raised through a SAFE (Simple Agreement for Future Equity), positioning Promeet for rapid growth and enhancing its ability to help creators earn effortlessly.

Monetizing content is often challenging for creators due to platform fees, payment delays, monetization restrictions, and the need for diverse income streams. Promeet works to solve these problems head-on by offering:

Instant Payments: Creators gain immediate access to their earnings with no delays. Unlike traditional platforms, which can take weeks or months to process payments, Promeet uses USDC on the Polygon network, enabling quick, peer-to-peer payments between creators and their audience.
Low Fees: Many platforms take significant cuts, up to 50% but with Promeet, creators keep 90% of their earnings, ensuring they retain more of what they make. With no hidden costs, creators have greater control over their income.
No Restrictions: While other platforms impose heavy restrictions, Promeet offers greater freedom for creators to share content authentically. Creators can monetize videos, live streams, and meetings with fewer barriers, leading to more organic audience engagement.
Easy Onboarding: Getting started with Promeet is quick and simple. There are no complicated setups, subscription fees, or KYC requirements. Users automatically receive a wallet upon signing up and never have to worry about gas fees or understanding blockchain processes. With no need to provide ID documents or link a bank account, creators can start monetizing their content immediately.
Full Control Over Content: Creators can choose whether to publish content publicly or keep it private, offering complete flexibility in how they manage their content and income.
The platform is committed to staying closely connected with creators and fans, ensuring their voices shape the platform’s future.


CEO Jonathan Azeroual’s Vision stated, “Blockchain technology has enormous potential, but it’s still searching for the right problem to solve,” said Jonathan Azeroual, Founder and CEO of Promeet. “I’ve been in this space for 10 years, and now it’s time to bring Web3 to mainstream. At Promeet, we’re building products that people actually use, products that empower creators to monetize their content easily, without relying on empty promises or tokens. We’re here to solve real problems for creators, enabling them to earn quickly, keep more of their income, and have more control over their content.”

With the new funding, Promeet plans to expand its team, enhance platform features, and scale its user base. The company remains committed to enhancing user experience, increasing brand visibility, and providing creators with the tools they need to succeed in the digital economy. As the platform grows, it is anticipated that more creators will participate, fostering the adoption of Web3-based monetization across industries.

Dubai Islamic Bank and Crypto.com team up to tokenize Islamic Sukuks and offer crypto payments

Dubai Islamic Bank and Crypto.com team up to tokenize Islamic Sukuks and offer crypto payments

Global crypto exchange Crypto.com, regulated in the UAE has teamed up with Dubai Islamic Bank to explore opportunities to introduce tokenized Sharia compliant Islamic Sukuk, and Real World assets, as well as facilitate crypto payments.

Crypto.com has announced the signing of a Memorandum of Understanding (MoU) with Dubai Islamic Bank (DIB), the UAE’s largest Islamic Bank and a world-renowned pioneer in the field of Islamic finance, as it continues to expand its market presence in the UAE and wider GCC.

The MoU, signed by Crypto.com’s President of UAE Operations, Mr. Mohammed Al Hakim, and DIB’s Chief Digital Officer, Mr. Musabbah Al Qaizi signed the MOU at DIB’s headquarters.

The MoU focuses on several key areas of collaboration including promoting the Crypto.com App and Card through DIB’s channels, with reward-based campaigns for DIB’s customers, and facilitating cryptocurrency payments via DIB’s systems.

This agreement also enables fiat currency funding on the Crypto.com App. Moreover, both entities will explore tokenization of real-world assets, including Islamic sukuks and real estate portfolios via the Cronos chain, and will look to integrate Crypto.com’s custody, OTC trade execution, and crypto trading technology solutions for DIB’s retail clients.

“We are delighted to enter this significant agreement with Dubai Islamic Bank, one of the most influential banks in the region, and explore exciting ways we can enhance our products for our UAE and wider GCC customer base.” said Mohammed Al Hakim, UAE President of Operations at Crypto.com.

“The partnership represents a unique opportunity for us to bridge the worlds of cryptocurrency and Islamic banking, paving the way for future collaboration on tokenized sukuks and sharia-compliant crypto solutions. We look forward to investigating new and innovative payment solutions and exploring the untapped potential in the Islamic finance sector.”

Musabbah Al Qaizi, Chief Digital Officer at Dubai Islamic Bank, said: “This partnership with Crypto.com signifies a transformative milestone for Dubai Islamic Bank as we embrace the forefront of technological advancement in Islamic finance. By exploring innovative avenues such as tokenized Islamic sukuks and the tokenization of real-world assets, we align with our strategic vision to integrate cutting-edge digital solutions while upholding the principles of Sharia compliance. This collaboration allows us to set new-age standards for Sharia-compliant financial solutions, providing our customers with unparalleled security, efficiency, and flexibility. It empowers us to redefine the integration between Islamic banking and digital asset management, paving the way for future developments in this emerging sector.”

This announcement comes as Crypto.com continues to expand its global and regional footprint, with the recent acquisition of Orion Principals Limited, regulated by the Abu Dhabi Global Market (ADGM), as well as the launch of its AED Wallet, giving users in the UAE fast and seamless deposit and withdrawals in the local currency.

It also recently appointed UAE National Mohammed Al Hakim to head its operations in the UAE.

Earlier in December, Crypto.com also announced a collaboration with Mastercard allowing the company to issue its world-renowned prepaid debit card to eligible users in the GCC region.

Abu Dhabi Chamber of Commerce to launch blockchain working group

Abu Dhabi Chamber of Commerce to launch blockchain working group

The Abu Dhabi Chamber of Commerce and Industry (ADCCI) plans to launch seven new working groups aimed to develop the private sector, promoting leadership and boosting Abu Dhabi’s business ecosystem that include AI, Blockchain and digital assets, as well as digital gaming and others.

As per the press release, these working groups focus on enhancing the private sector’s capacity, reflecting their aspirations, and channelling their voice to relevant stakeholders across key economic sectors.

The working groups explores seven key fields including precious metals and jewellery, chemicals production, Artificial Intelligence (AI), interactive and digital gaming, banking and financial services, blockchain and digital assets, as well as media, entertainment and gaming.

The Abu Dhabi Chamber of Commerce previously identified over 126 opportunities for the private sector to develop, through their engagement with the current working groups that span across various sectors. These working groups often host group meetings and workshops to discuss topics related to each sector and enhance their contribution to socio-economic development.

His Excellency Shamis Ali Khalfan Al Dhaheri, Second Vice Chairman of ADCCI ,Managing Director, said, “Through the new seven working groups, the Abu Dhabi Chamber aims to contribute to the Emirate’s economic aspirations by fostering a dynamic and diverse business ecosystem, solidifying Abu Dhabi’s position as the leading hub for business and investment.”

Al Dhaheri emphasized the Chamber’s commitment to coordinating with all stakeholders to provide a platform that fosters cooperation, knowledge exchange, and opportunities for business growth in Abu Dhabi.

To further strengthen the role of startups in the national economy, the Chamber is also establishing a dedicated team that brings together representatives from startups, innovation centres, business incubators and accelerators, venture capitalists, Research and Development (R&D) centres, and the public sector to address their challenges.

Jordanian government approves Blockchain strategy for 2025

Jordanian government approves Blockchain strategy for 2025

The Jordanian Council of Ministers has approved the blockchain strategy for 2025 to improve governmental services, security, and competency. As per the announcement, introducing blockchain is aimed to improve transparency and integrity. Blockchain will be used to ensure privacy of citizens’ data including financial, educational. health and others.

The Blockchains strategy will improve the digitization efforts simplifying administrative functions while saving time and cost for governmental services.

As per the Jordanian government it will also enhance innovation in various economic sectors such as entrepreneurial and startup sector.

The strategy is aligned to the Jordanian economic vision to innovate especially in the telecom and IT sector.

The Jordanian Ministry of Digital Economy and Entrepeneurship was a key player in the creation of the strategy. The Ministry had sent out a consultation paper and received over 100 comments from 22 entities taking into consideration comments that would be influential in the policy.

In May 2023, the Jordanian government represented by Jordanian Ministry of Digital Economy and Entrepreneurship ( MODEE)) commissioned the United Nations Economic and Social Commission for Western Asia (UNESCWA) Economic and Social Commission for Western Asia to draft a national blockchain policy for Jordan. Fast forward one year, and MODEE has officially launched a national blockchain network, called MODEE DLT ( Distributed Ledger Technology) to enhance e-government services.

Estonia and UAE to enhance healthcare sector in UAE with Blockchain security solutions

Estonia and UAE to enhance healthcare sector in UAE with Blockchain security solutions

The Estonian Ministry of Social Affairs has partnered with the UAE to develop innovative solutions in the digital health sector using blockchain technology.

As per the press release, the partnership aims to address future challenges and create added value in the UAE’s healthcare system, leveraging Estonia’s leadership in digital health to improve the quality and efficiency of medical services in the UAE. It is designed to help the UAE adopt advanced digital systems, including e-prescriptions, artificial intelligence, and blockchain technology, to improve services and ensure the security and confidentiality of health data.

Janika Merilo, Head of the Digital Health and Care Department at the Estonian Ministry of Social Affairs, expressed her enthusiasm for the collaboration, saying, “We are pleased to announce this strategic partnership with the UAE, which represents a global model for digital transformation. We are committed to sharing our expertise in digital health to support the UAE’s efforts in developing a sustainable healthcare system for the future.”

Merilo emphasized that Estonia’s experience in digital transformation has shown how technologies like e-prescriptions and blockchain can revolutionize healthcare delivery.

Since adopting a comprehensive digital health system in 2008, Estonia has become a world leader in this field, managing over 40 million electronic health records. The system facilitates more than 2.3 million monthly interactions between doctors and patients, with 99% of prescriptions issued electronically. This digital approach has saved Estonia an estimated 2% of its annual GDP by reducing paperwork and enhancing efficiency.

Estonia’s use of blockchain technology to protect health data from cyber threats aligns with the UAE’s emphasis on improving cybersecurity in healthcare systems. This collaboration aims to build a safer and more sustainable health system in the UAE.

Estonia and UAE will work together to enhance security through blockchain will foster trust in the healthcare system, and ongoing innovations will contribute to building a sustainable, advanced healthcare model for the UAE.

UAE and USA retail investors to increase investments in crypto in 2025

UAE and USA retail investors to increase investments in crypto in 2025

In an eToro survey, published December 24th, on UAE retail investors, it found that UAE retain investors plan to increase their cryptocurrency investments by 2025. In fact 37% of retail investors plan to do so, while 40% plan to increase their investments in stocks, bonds and commodities, while 38% plan to invest in real estate.

This survey covered 1,000 retail investors in the UAE, 54% of whom listed financial goals as their main New Year’s resolutions for 2025, including investing in stocks, cryptocurrencies, and real estate.

The survey also showed that 51% of respondents plan to increase their savings or investment amounts, and 41% plan to develop more comprehensive budgeting and spending tracking strategies. Meanwhile, 32% want to increase their income through side jobs, and 28% are considering changing jobs to earn higher salaries.

66 percent of retail investors in USA will increase allocation in crypto in 2025

Bret Kenwell of eToro discussed a survey that was conducted on 1,000 retail investors in the United States. 61% of respondents affirmed that the bull market will persist.

In addition, confidence in AI stocks is also high, with 16% anticipating that they will continue their substantial increase into 2025, while 42% anticipate more incremental increases in their share prices.

Analyst Bret Kenwell said, “Tech often serves as a leadership group for US stocks, and with mega-cap and AI-related stocks garnering strong momentum as Q4 draws to a close, retail investors are looking for that to continue in 2025. Given how well markets have performed and how well these companies are doing, it’s no surprise that investors are optimistic.”

The re-election of Donald Trump, a pro-crypto president, has inspired substantial adjustments in retail investors’ portfolios. 55% of investors have adjusted their strategies. Of those that are planning on adjustments, 66% are increasing their allocation to crypto, a more popular option than US stocks 50%.

Bret Kenwell explained that Crypto has done really well. He further pointed out that Bitcoin has doubled its price for two consecutive years.