According to a recent River Bitcoin Adoption report for 2025, the UAE holds 3.75% of global Bitcoin hashrate beating Canada which holds 3%, Kazakhstan at 2.5% and Paraguay with 3.5%. The United States continues to lead with a Bitcoin Hashrate of 36%, followed by Russia at 16% an China at 14%.

The report also noted that 28 countries hold less than 0.1% of the hashrate, and 9 countries hold 1% of hashrate. Already 94% of 21 million Bitcoins have been mined and the 6% will be mined within the next 115 years maximum.

Interestingly public companies account for 35.2% of total hashrate.

Individuals own 69.4% of Bitcoin supply followed by Funds ETF which hold 6.1% of supply and governments 1.4% of supply while businesses have 4.4% of supply.

The report also noted that Bitcoin global ownership is still less than 4%.

In the MENA region countries that have allowed Bitcoin mining are the UAE and Oman. One of the biggest players in Phoenix Group ADX-listed blockchain and crypto mining entity recently announced crypto mining revenues of $107 million in 2024, compared to $32 million in 2023 and $5.4 million in 2022. This represents a1852% increase over two years.

CEO & Co-Founder Munaf Ali has significantly increased his stake in the company, reaffirming his strong belief in its prospects and long-term growth trajectory. Since the public disclosure on ADX on November 18, 2024, Ali has acquired over 20 million ordinary shares of Phoenix Group through direct market purchases. This substantial investment highlights his deep confidence in the Company’s growth potential and his commitment to aligning executive interests with those of shareholders.

“As we enter a year of high-impact expansion, I firmly believe in Phoenix Group’s long-term potential, as these purchases show,” said Munaf Ali, CEO & Co-Founder of Phoenix Group “Increasing my holding in the Company reflects my belief in our differentiated strategy, high quality operations, and future growth. Phoenix Group is at the forefront of digital asset mining, and as a Board we remain fully focused on delivering growth and sustainable value creation for our shareholders.”

Marathon Digital also has operations in the UAE. Marathon Digital Holdings, Bitcoin mining entity, the company showcased its unaudited Bitcoin production stating that in January 2024 their Abu Dhabi facilities will have a total of 7.1 exahashes online. According to the CEO of Marathon Digital Fred Thiel, the operations in Abu Dhabi UAE currently has 2.7 exahashes online and includes over 13,000 rigs energized at their second larger facility in Masdar City. As he stated, “the remaining 4.4 exahashes are still expected to be online in January 2024.”