As Phoenix Technology announced its entrance into a strategic exclusive regional partnership with Blockchain crypto mining product entity, they also noted that Phoenix Technology which embarked on establishing a $2 billion crypto-mining farm in the UAE, the biggest crypto mining project in the region will be completed in the next six months, or Q2 of 2023.   The press release notes, “The project will be finalized within six months, giving the region a taste of technological advancement and development.” In February 2022 Phoenix had announced it was part of the group of entities developing the UAE crypto mining farm and had also stated in a interview with Irena Heaver that the project would be finalized in the next six months. Almost a year later, and their latest press release states the UAE crypto mining farm will be launched in the next six months.  The partnership with MicroBT, a technology company based on blockchain, will allow Phoenix Technology to s...

  Amidst what some might consider as bearish markets especially for the crypto mining industry given high energy prices and decreased value in crypto markets, UAE’s crypto mining hardware retailer, Phoenix Technology is investing $300 million in crypto mining sites across the globe. As per recent news, Phoenix Technology is developing a large scale site in the United States which will be launched in Q2 of 2023. The site will utilize the latest mining technologies including immersive cooling. Carl Agren, CEO of Phoenix Technology, stated, “Phoenix Technology is aiming to switch from a regional player in the mining space to a global one. In other words, developing, maintaining, and operating sites all around the world. We have been currently focusing on the North American markets, mainly the US and Canada. However, we are planning on setting foot in other regions to try to identify opportunities in untapped mining areas. We are devoting $300 million to be invested in different si...