Phoenix Group PLC Unveils New 25-Megawatt Mining Facility in South Carolina

Phoenix Group PLC (PHX), a prominent multi-billion-dollar tech conglomerate listed on the Abu Dhabi Securities Exchange (ADX), has announced the opening of a new 25-megawatt cryptocurrency mining facility in Willamette, South Carolina.

This remarkable expansion boosts the company’s global mining capacity by 1 exa hash, raising its total to 18 exa hash.

Seyed Mohammad Alizadehfard (Bijan), Co-Founder and Group CEO of Phoenix Group, emphasized the strategic importance of this development. “While the addition of the Willamette site is part of our strategy to be one of the major global players in mining Bitcoin, it also signals our commitment to growth and investing in innovative Web3 initiatives around the globe. The Willamette site expansion also allows us to deploy upgrades to our proprietary mining technology stack and optimize our miner allocation for greater efficiency,” Bijan stated. “This strategic development is crucial as we prepare for future demands in the blockchain space, ensuring that Phoenix Group remains agile and well-positioned for technological advancements and market growth.”

The new facility at Willamette significantly enhances Phoenix Group’s infrastructure, contributing to a total capacity of several gigawatts across its operations and development projects. This move is part of a long-term strategy to expand and optimize the Group’s mining facilities, aiming to increase hash rate productivity while minimizing costs.

Bijan added, “The new mining site in Willamette symbolizes our commitment to innovation and efficiency in the crypto mining industry. By controlling all aspects of our infrastructure and having access to substantial power resources, we can swiftly adapt to changes in the computing landscape, exploring opportunities in both blockchain and alternative high-value computing forms.”

Strategically located to maximize local energy resources, the Willamette facility enhances both operational efficiency and sustainability. Phoenix Group’s adaptable approach to infrastructure supports a flexible adaptation to alternative computing forms, reducing both the cost and time required for new constructions or modifications.

With the Willamette site now operational, Phoenix Group has expanded its network to ten mining facilities across the US, Canada, CIS, and the UAE, focusing on its core verticals: Mining, Hosting, Trading, and Investments.