Phoenix Group Boosts Bitcoin Mining with New 20MW Texas Facility
Phoenix Group PLC (ADX: PHX) has bolstered its Bitcoin mining capacity with a new 20 megawatt facility in Texas, marking a significant step in its global expansion. The company, a top 10 global miner, also revealed financial and operational results for the first quarter of 2025.
The Texas facility, energized in the first quarter, strengthens Phoenix Group's operational base in North America and is part of its strategy to diversify globally. Texas, known for its mining-friendly jurisdiction, is an ideal location for the company's expansion in the U.S.
In addition to Texas, Phoenix Group has selected Canada and Germany as new locations for crypto mines in the first quarter of 2025, alongside Ethiopia. This expansion is driven by the company's aim to meet the inevitable surge in demand for power required by Bitcoin mining and AI data centers.
Phoenix Group's mining capacity has grown by an additional 52 megawatts, with the Texas facility contributing 20 megawatts. The company now operates strategic sites in Canada, Ethiopia, Oman, the UAE, and the U.S., solidifying its position as a top 10 global Bitcoin miner.
Phoenix Group's expansion into Texas and other locations, along with the increased mining capacity, demonstrates the company's commitment to staying ahead of the growing demand for power in the crypto and AI sectors. With its strategic global diversification, Phoenix Group is well-positioned to continue its growth as a leading player in the Bitcoin mining industry.
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