Data: Cryptocurrency mining company Phoenix Group's mining revenue reaches $107 million in 2024

ChainCatcher news, according to Cryptonews, Abu Dhabi cryptocurrency mining company Phoenix Group has released its annual report for 2024.

The data shows that the company's mining revenue increased by 236% year-on-year to $107 million, with total revenue reaching $206 million and a net profit of $167 million. The company currently contributes a hash rate of 15.0 EH/s to the Bitcoin network, accounting for 1.9% of the total network hash rate.

The company plans to go public on Nasdaq this year.