The Royal Group has reported holding $453.6 million in Bitcoin through its operations linked to Citadel Mining, resulting in an unrealized profit of $344 million, excluding energy costs. This aligns with the broader trend in the UAE, where miners are increasingly adopting a hold strategy for self-mined Bitcoin, with minimal outflows noted in recent months, the last being four months ago. The UAE’s advantageous energy resources have fostered the growth of sovereign-scale Bitcoin mining operations, leading to a pause in sales among major miners as they capitalize on favorable market conditions.
Royal Group reports $344M in unrealized Bitcoin profit
