The United Arab Emirates holds over $700 million in Bitcoin

The United Arab Emirates has emerged as one of the largest state-linked Bitcoin holders in the world, with cryptocurrency intelligence platform Arkham labeling over $719 million in $BTC tied to the UAE Royal Group’s mining operations.

Unlike the U.S. and U.K. whose sizable Bitcoin reserves primarily stem from law enforcement seizures, the UAE’s $BTC stash originates from large-scale mining. Citadel Mining has mined roughly 9,300 $BTC since 2022, of which at least 6,300 $BTC remain in reserve.

Data analyzed by Finbold research shows the UAE’s Bitcoin balance rose from $549.5 million on January 1, 2025, to $719.6 million by August 26, 2025, marking a $170 million increase. Notably, this growth reflects both $BTC price appreciation (from $92,595 to $110,092) and net accumulation of 409 $BTC (+6.9%).

The assets are held through Citadel Mining, a publicly listed Bitcoin miner majority-owned by the UAE’s International Holding Company (IHC), itself controlled by Sheikh Tahnoon bin Zayed Al Nahyan, a senior member of Abu Dhabi’s royal family.

State-backed mining empire

Citadel Mining is 85% owned by 2pointzero, fully owned by IHC. IHC itself is 61% owned by the UAE Royal Group, consolidating control under Abu Dhabi’s ruling elite.

Together with Phoenix Group, a UAE-listed miner that Arkham tracks with $3.2 million in $BTC holdings, the UAE has built an extensive mining footprint. In 2022, Citadel and Phoenix jointly constructed an 80,000 square meter mining facility on Abu Dhabi’s Al Reem Island in just six months.

Satellite imagery of the site matches the timeline of reported mining activity, while on-chain transfers between Phoenix and Citadel confirm disclosures made in official filings, according to Arkham.

UAE ranks fourth among state Bitcoin holders

Arkham now places the UAE as the fourth largest government-linked Bitcoin holder globally, trailing the U.S., the U.K., and the Royal Government of Bhutan, and just ahead of El Salvador.

By contrast, while the U.S. holds over 200,000 $BTC primarily from seizures, the UAE’s holdings demonstrate direct sovereign participation in Bitcoin mining infrastructure.

With its $719 million position and ongoing mining expansion, the UAE is positioning itself as a key institutional player in Bitcoin’s evolving global landscape.