Abu Dhabi - Mubasher: Phoenix Group shifted to net losses attributable to shareholders valued at $182.76 million in the first half (H1) of 2025, against net profits of $122.28 million.

Meanwhile, the revenues plummeted to $60.39 million in H1-25 from $120.13 million in the same period a year earlier, according to the financial statements.

Basic and diluted loss per share amounted to $0.03 in the first six months (6M) of 2025, versus earnings per share (EPS) valued at $0.02 in H1-24.

Results for Q2

In the second quarter (Q2) of 2025, the net losses attributable to shareholders of Phoenix amounted to $29.17 million, against profits of $56.13 million in Q2-24.

The revenues shrank to $29.13 million in April-June 2025 from $51.20 million a year earlier.

Phoenix Group mined 336 Bitcoins in Q2-25, which includes 214 Bitcoins that were self-mined.

Munaf Ali, CEO and Co-Founder of Phoenix Group, said: “We are building toward 1 gigawatt of hybrid infrastructure by 2027, and we see a clear path to get there.”  

Ali continued: “Many smaller operators are stuck with land and power they can’t convert into meaningful compute. Phoenix’s execution speed and platform model give us a distinct edge to acquire and upgrade these assets for AI ahead of the broader market.”

In Q1-25, Phoenix Group reported consolidated revenues of $31.26 million, while the gross profit totaled $6.30 million.