UAE IHC Holding, which bought 10 percent of UAE Phoenix Group, a leading Bitcoin mining entity continues to spur its growth in Blockchain, AI and IoT in a joint venture with Indian Adani Group.
The joint venture, Sirius Digitech will be based out of Abu Dhabi UAE. Indian based Adani Global Ltd. and UAE IHC’s Sirius International Holding Ltd. will own 49% and 51% respectively in the Sirius Digitech International Ltd. Both partners will have an equal representation on the board of new entity which will also explore Internet of Things and blockchain besides AI.
The venture aims to explore sectors ranging from Fintech and Healthtech to Greentech, leveraging Adani’s proven track record of incubating successful businesses within its extensive portfolio.
The partners emphasized their dedication to collaborative decision-making through equal representation on the board, highlighting the alignment of Adani’s innovation and IHC’s strategic vision. In addition, they aim to go beyond AI, exploring the transformative possibilities of IoT and blockchain technologies to bring about significant advancements across industries.
Prior to this IHC purchased 10 percent of Pheonix Group which holds investments in Bitcoin mining, as well as investments in the recently launched M2 regulated crypto exchange out of Abu Dhabi. This positions IHC not only in the realm of digital assets but now more so in Blockchain, AI, and other technologies.