Abu Dhabi - Mubasher: Phoenix Group incurred net losses attributable to shareholders worth $299.13 million in the first nine months (9M) of 2025, versus net profits of  $169.84 million in 9M-24.

Revenues dropped to $92.32 million in 9M-25 from $156.11 million in the corresponding period of 2024, according to the financial statements.

Basic and diluted loss per share hit $0.03 as of 30 September 2025, compared to earnings per share (EPS) of  $0.02 in 9M-24.

Quarterly Results

During the third quarter (Q3) of 2025, the ADX-listed group shifted to net losses attributable to shareholders valued at $46.36 million, against net profits of $47.55 million in Q3-24.

Meanwhile, the revenues shrank to $31.93 million in the July-September 2025 period from $35.97 million in Q3-24.

The crypto infrastructure firm mined 305.50 BTC in Q3-25, including 194.90 BTC from self-mining, and sold 100 BTC to fund growth.

Munaf Ali, Co-Founder and Group CEO of Phoenix Group, said: “Q3 has been a pivotal quarter for us, one that not only reflects our operational strength but also sets the stage for Phoenix’s next phase of growth.”

“As we move into Q4 and beyond, our focus is on scaling toward 1 GW of capacity and advancing our entry into AI and high-performance compute,” Ali noted.

He added: “The infrastructure we’ve built over the years is now evolving into a global platform where intelligent energy drives innovation and turns power into progress.”

In the first half (H1) of 2025, Phoenix Group swung to net losses attributable to shareholders of $182.76 million, compared with net profits of $122.28 million in H1-24.