UAE Now Ranks Among Top State Bitcoin Holders With $700M From Mining

The United Arab Emirates now ranks among the world’s top government Bitcoin holders, securing $700 million in $BTC through a state-backed mining initiative rather than market buys or seizures.

On Monday, blockchain intelligence firm Arkham revealed a cluster of Bitcoin wallets tied to the UAE government. Together, these wallets hold about $700 million worth of $BTC. This substantial reserve marks the nation’s official entry into the ranks of state Bitcoin holders.

Mining, Not Buying: A Strategic Choice

While most governments gained Bitcoin by seizing it during investigations, the Emirates generated its stash through mining. This approach highlights a deliberate, organic path to building digital reserves.

The mining center has already produced approximately 9,300 $BTC since going operational. Of this amount, the UAE continues to hold at least 6,300 $BTC. By keeping most of its mined Bitcoin, the UAE demonstrates that it views crypto reserves as a form of strategic asset, similar to gold or foreign currency reserves.

Where the UAE Stands in Global Bitcoin Rankings

The UAE is now one of the top six governments worldwide in terms of Bitcoin holdings. It follows the United States, China, the United Kingdom, Ukraine, and Bhutan. At the same time, it has already surpassed El Salvador, despite the latter’s much-publicized adoption of Bitcoin as legal tender.

Meanwhile, the difference in scale is striking. The United States leads with 198,012 $BTC, equal to $21.83 billion at current prices. China follows with 194,000 $BTC, worth $21.38 billion. The United Kingdom has 61,245 $BTC, valued at $6.75 billion. Ukraine holds 46,351 $BTC, worth $5.11 billion, while Bhutan maintains 11,286 $BTC, worth $1.24 billion.

While El Salvador has attracted significant media attention for its Bitcoin strategy, its actual holdings remain smaller than those of the UAE. El Salvador holds 6,246 $BTC, worth $688.48 million.