UAE Quietly Accumulates Impressive Stash of Bitcoin Through State-Linked Mining

The United Arab Emirates has been quietly accumulating an impressive stash of Bitcoin through state-linked mining operations. According to on-chain data from Arkham, the country's wallets tied to the UAE Royal Group currently hold around $454 million worth of Bitcoin, with a total of 6,782 coins.

This represents approximately $344 million in unrealized profit for the UAE, as its cost basis is significantly lower than current market prices. The mining infrastructure has produced around 4.2 Bitcoin per day over the past seven days, indicating that operations remain active despite recent price fluctuations.

The UAE's mining activity began in 2022 with Citadel Mining, tied to Abu Dhabi's royal family through International Holding Company, establishing large-scale facilities on Al Reem Island. In 2023, MARA Holdings partnered with Zero Two to develop immersion-cooled mining capacity in the region, one of the largest disclosed industrial deployments in the Gulf.