Phoenix Group Acquires $380 Million Worth of Green Mining Equipment from WhatsMiner
Phoenix Group, a United Arab Emirates Bitcoin mining firm, has disclosed a $380 million deal with WhatsMiner for hydro cooling mining equipment.
On December 7, Bitcoin miner Phoenix Group announced that it had swiftly secured a $380 million hydro cooling hardware deal with Whatsminer, a notable achievement less than 48 hours after its stock debuted on the Abu Dhabi Securities Exchange (ADX).
Phoenix Group revealed plans to integrate hydrocooling miners in collaboration with WhatsMiner, a move aimed at establishing high-performance computing (HPC) data centers of global repute. This strategic shift aligns with the company’s commitment to adopting eco-friendly practices in crypto mining, positioning itself as a leader in responsible and efficient mining solutions.
The purchase includes mining equipment valued at $136 million, with an additional option for $246 million. This substantial deal is touted as the most significant order for Whatsminer in the past two years, solidifying Phoenix Group’s position in the crypto mining sector.
WhatsMiner’s hydro cooling hardware uses a closed-loop water system, offering more efficient heat transfer compared to air or oil, leading to reduced operational costs and a minimized environmental impact, the company claims.
As the exclusive distributor of WhatsMiner equipment since 2022, Phoenix sees this collaboration as a crucial step in establishing high-performance computing (HPC) data centers. The deployment location of the equipment could be clearer, as Phoenix operates mining facilities not only in the UAE but also in Canada and the United States.
WhatsMiner, a brand owned by MicroBT, was founded in 2016 by Zuoxing Yang, a former Bitmain employee and one of the designers behind
