The UAE has accumulated $450 million worth of Bitcoin through mining, with a net profit of $344 million after deducting costs.

GateNews
BTC-2,96%

BlockBeats News, February 19 — According to Arkham data, the United Arab Emirates has earned $453.6 million worth of Bitcoin through Bitcoin mining in partnership with Citadel. It is reported that they have retained most of the Bitcoin they produced, with the last recorded fund outflow occurring four months ago. After deducting energy costs, the UAE’s current profit on Bitcoin holdings is $344 million.

Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to Disclaimer.

Related Articles

A newly created address withdrew 2,650 BTC from a certain CEX, worth about $180 million

Gate News reports that on March 27, according to Lookonchain monitoring, a newly created address starting with bc1qws has just withdrawn 2,650 BTC from a certain exchange, worth approximately 180 million dollars.

GateNews3m ago

Strategy shifts to preferred stock financing: STRC is being frantically bought up by retail investors, MSTR has fallen over 12% this year.

The company is accelerating its capital structure transformation, and the Series A floating rate perpetual preferred stock STRC has become a hotspot for retail funds. STRC offers a higher dividend yield, attracting individual investors, while the company plans to raise $21 billion through the issuance of STRC. Despite the poor performance of common stock MSTR, the development of STRC provides new opportunities for investors with different risk tolerances.

GateNews4m ago

Bitcoin ETF saw a single-day outflow of $171 million, the highest in three weeks; the situation in the Middle East has become a key variable for institutional positioning

Due to the tense situation in the Middle East, there has been an outflow of funds from the U.S. spot Bitcoin ETF, with a net outflow of $171 million on Thursday, marking the largest redemption since March. At the same time, the price of Bitcoin has fallen below $70,000, and market risk aversion has increased. Although there is short-term pressure, there is still hope for long-term capital inflows. Analysts believe that future trends will be influenced by geopolitical factors.

GateNews5m ago

BTC dropped below 68000 USDT

Gate News bot message, Gate market shows, BTC has fallen below 68000 USDT, current price 67807.7 USDT.

CryptoRadar6m ago
Comment
0/400
EMR16vip
· 02-19 06:23
Buy for earning 💎
View OriginalReply0