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Arkham Intelligence says it has pinpointed bitcoin ( $BTC) wallets tied to the United Arab Emirates (UAE), and according to the blockchain analytics firm, the UAE now ranks as the fourth-largest government holder of bitcoin flagged on Arkham’s platform.
Citadel Mining’s $BTC Trove Tied to Abu Dhabi Royalty—Arkham Lifts the Veil
As of Aug. 25, 2025, the United Arab Emirates (UAE) is reportedly holding 6,333 bitcoin ( $BTC), according to figures shared by Arkham Intelligence. Posting the update on X, Arkham said, “The UAE’s $700M $BTC holdings are now labeled on Arkham. These holdings come from Bitcoin mining operations carried out by Citadel, a public mining company majority owned by UAE Royal Group through IHC.”
The blockchain analytics firm also noted:
“Arkham is the first to publicly identify these addresses.”
Arkham revealed that the UAE ranks as the fourth-largest government holder of bitcoin on its platform, with around $712 million in $BTC. Unlike the U.S. and U.K., whose bitcoin stashes stem from law enforcement seizures, the UAE’s stockpile comes directly from mining through Citadel Mining, Arkham explained in its X thread.
The firm also said roughly 9,300 $BTC have been mined so far, with at least 6,300 $BTC still sitting in UAE-controlled wallets. According to Arkham, Citadel Mining is 85% owned by 2pointzero, a firm entirely owned by IHC. IHC itself is approximately 61% owned by UAE Royal Group, a major conglomerate led by Sheikh Tahnoon bin Zayed Al Nahyan of Abu Dhabi’s ruling family.
“In conjunction with Phoenix Group (a public UAE mining company) and the UAE government-owned IHC, Citadel built an 80,000 square meter bitcoin mining facility on Al Reem Island in Abu Dhabi in 2022 in 6 months,” Arkham detailed on X. “We were able to corroborate the timeline of on-chain mining activity with time-lapse satellite imagery of facility construction. Onchain transactions between Phoenix and Citadel also match amounts disclosed in official reports.”
The UAE’s bitcoin position places it in a unique geopolitical tier—one where energy resources are being actively funneled into digital reserve assets. The UAE’s strategy showcases a deliberate alignment between sovereign capital and critical infrastructure, carving out a path to decentralized wealth through mining—not seizures or open-market buys—much like Bhutan’s own $BTC playbook.
As governments position themselves in the digital monetary arena, the UAE’s mining-first approach signals a strategic move aimed at long-term influence. Arkham also pointed out that Phoenix Group is now labeled on its platform and currently holds $3.2 million in $BTC. Phoenix revealed its treasury during its Q2 revenue results, which also mentioned a position in solana ( SOL).