The Abu Dhabi royal family, those modern-day alchemists of opulence, has concocted a $700M (₩970B) Bitcoin reserve. Arkham Intelligence, with the subtlety of a detective in a detective novel, unveiled this gem in its latest report.
The findings-because of course, it’s a finding and not a mere suspicion-reveal the United Arab Emirates (UAE) hoards 6,333 BTC. These were mined with the elegance of a symphony orchestra, not purchased like a loaf of bread or seized like a rogue’s treasure.
$700M in BTC: A Royal Mining Feat 🏛️⛏️
Arkham, that paragon of digital sleuthing, declared on X that it had traced wallets to the UAE government. “The UAE’s $700M BTC holdings are now labeled on Arkham,” they proclaimed, “unlike the US and UK, who prefer the drama of seizing criminals’ assets. The UAE, ever practical, mines its own.”
This operation, a labyrinthine web of corporate ownership where even the most astute accountant would lose their way, is the UAE’s sovereign ballet. The state, it seems, has traded its oil rigs for Bitcoin rigs, all with the precision of a Victorian butler.
Citadel Mining, the crown jewel of this endeavor, is 85% owned by 2pointzero, which is 100% owned by the International Holding Company (IHC). The Royal Group, with its 61% stake in IHC, ensures the Abu Dhabi royal family’s fingerprints are all over this digital gold rush. A structure so Byzantine, it would make a Roman senator blush.
From Oil to Bitcoin: A Metamorphosis Worth Billions 🛢️➡️💻
The UAE, that oil-rich nation with a flair for reinvention, has turned its black gold into digital glitter. This isn’t just a pivot-it’s a moonwalk into the future, with Bitcoin as the soundtrack. A sustainable method of accumulating wealth? Yes, but also a masterclass in modern imperialism.
“A unique case of a nation-state mining Bitcoin,” Arkham mused, as if such a thing were normal. Other countries, it seems, are content to let their Bitcoin holdings gather dust like a Victorian heir’s attic. The UAE, however, has built a Bitcoin printing press with the enthusiasm of a Victorian inventor.
Citadel Mining’s 80,000-square-meter facility on Al Reem Island is the UAE’s answer to a medieval monastery-except the nuns here are mining rigs. Arkham’s investigation, a blend of on-chain detective work and satellite voyeurism, confirms Citadel has mined 9,300 BTC. The state’s wallets? A modest 6,300 BTC. Humble, really.
Arkham, ever the purveyor of truth, verified its claims with a blend of blockchain analysis and satellite snapshots. Because nothing says “trust us” like comparing mining timelines to construction timelapses. 🌐📸
The Abu Dhabi royal family, ever the trendsetters, isn’t stopping at Bitcoin. The Phoenix Group, another royal-linked mining firm, holds $3.2M in BTC and a healthy dose of Solana (SOL). A broader strategy? Perhaps. A midlife crisis? Likely. 🤷♂️
Arkham added, “On-chain transactions between Phoenix and Citadel match official reports.” How thrilling. A world where numbers align, and nothing is ever suspicious. A utopia, really. 🌟
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2025-08-26 13:07