Phoenix technical consultant in the UAE orders USD 650 million crypto miner

Phoenix technical consultant in the UAE orders USD 650 million crypto miner

2021/11/10

According to reports, Munaf Ali, CEO of Phoenix Technology Consulting, headquartered in the United Arab Emirates, stated at the World Digital Mining Summit (WDMS) in Dubai that he had signed an order for cryptocurrency miners of US$650 million, which is the largest purchase on record. One. Delivery of the "new generation" machine will begin in 2022. Phoenix will also place an order to purchase cryptocurrency mining application-specific integrated circuits (ASICs) worth more than US$2 billion in the third quarter of 2022. In addition, Ali said the mining facilities in Phoenix would Consume more than 600MW of electricity and be further expanded to 1.4GW in the next 18-24 months. Phoenix Technology is affiliated with Phoenix Store, Bitmain's distributor in the Middle East.

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