- Phoenix Group’s North Dakota facility adds over 2.7 exahashes to its global hash rate.
- Completed in under five months, the site showcases engineering efficiency and scalability.
- The facility strengthens the company’s position as a leader in blockchain innovation.
Phoenix Group has opened a 50-megawatt blockchain mining facility in North Dakota, according to a post on X by the Group. Once fully operational, the site will contribute more than 2.7 exa-hashes (EH) to the company’s global hash rate. This reinforces the company’s commitment to securing blockchain networks and meeting the growing demand for digital assets.
Munaf Ali, CEO of Phoenix Group, described the project as a testament to the company’s engineering and operational expertise. “The investment and opening of the Dakota site is an important step in our strategy to grow our mining capacity globally and in the United States,” Ali said.
“Building and energizing a 50MW site in less than five months reflects the speed, precision, and innovation that set Phoenix Group apart in the competitive Bitcoin mining industry.”
Strategic Milestone for Phoenix Group
According to the press statement, the siting of the plant in North Dakota highlights Phoenix Group’s commitment to sustainable and efficient operations. The facility uses advanced technologies and optimized designs to maximize energy efficiency while delivering high performance.
This expansion aligns with Phoenix Group’s strategy of scaling operations in key markets. Reza Nedjatian, CEO of Phoenix Group’s Global Mining Operations, highlighted the importance of the U.S. market:
“The United States has always been a key hub for our mining operations, and the opening of the Dakota site is another major step in Phoenix Group expanding its investment in this key market.”
Phoenix Group’s Track Record
This milestone follows the company’s opening of a 25MW mining facility in South Carolina last July. Founded in 2017 and headquartered in Abu Dhabi, Phoenix Group operates over 10 mining facilities across the U.S., Canada, CIS, and the UAE.
Phoenix Group went public in October 2023 through an IPO that raised $370 million. It thus became the first private crypto and blockchain company listed on the Abu Dhabi Securities Exchange.
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