The royal family of Abu Dhabi has strategically amassed a Bitcoin reserve worth $700M (₩970B). They rank among the world’s wealthiest families, as revealed in a recent report by Arkham Intelligence.
The research indicates that the United Arab Emirates (UAE) possesses 6,333 BTC. These were generated through advanced mining operations rather than market transactions or confiscations.
$700M in BTC Mined by Royal-Owned Operation
Arkham reported on Monday via X that it had traced wallets associated with the UAE government. The report stated, “The UAE’s $700M BTC reserves are now categorized on Arkham. Unlike holdings in the US and UK, the UAE’s assets do not originate from police seizures but from mining activities with Citadel Mining.”
These assets stem from an advanced, state-administered mining enterprise with a complex ownership model, reinforcing the sovereign nature of this operation.
Citadel Mining is the entity at the forefront of this venture. 2pointzero owns 85% of Citadel Mining, which is entirely controlled by the International Holding Company (IHC). The Royal Group holds approximately 61% of IHC, which is under the Abu Dhabi royal family’s control. This arrangement solidifies the state’s dominance over Bitcoin production.
UAE Turns Oil Money Into Digital Money
This development signifies a major shift for the oil-rich nation, transforming “oil money” into “digital money.” It creates a sustainable avenue for accumulating Bitcoin, providing the country with a reliable and expandable source of digital wealth.
“This represents a unique instance of a nation-state directly acquiring Bitcoin through mining,” noted the Arkham report. Unlike other countries, which often rely on law enforcement for Bitcoin holdings, the UAE has created a system to steadily increase its reserves.
Citadel Mining operates a large 80,000-square-meter Bitcoin mining facility on Al Reem Island in Abu Dhabi, serving as the physical base for the government’s cryptocurrency strategy. Arkham’s research suggests that Citadel has mined around 9,300 BTC thus far, with state-controlled wallets securing at least 6,300 BTC.
Arkham confirmed its findings through on-chain data analysis and real-world verification, including comparing on-chain mining activity with satellite images and aligning the mining schedule with facility construction time-lapse footage.
The Abu Dhabi royal family is also diversifying its digital asset portfolio beyond Bitcoin. The Phoenix Group, another publicly traded mining company linked to the royals, currently possesses Bitcoin valued at $3.2 million and has revealed a Solana (SOL) position in its second-quarter report this year, indicating a broader strategic involvement in the cryptocurrency landscape.
Arkham added, “On-chain transactions between Phoenix and Citadel also align with figures disclosed in official reports.”
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