Phoenix Technology, a crypto mining hardware retailer and mining facility operator, is considering going public, Bloomberg reported on Friday.
Phoenix is in early stage talks for an initial public offering in Abu Dhabi, the report added, citing sources. A spokesperson for Phoenix Technology declined to comment on the report.
The Gulf has become an increasingly attractive destination for bitcoin miners, thanks to cheap energy and a crypto-friendly regulatory environment. Crypto miner Marathon Digital Holdings (MARA) is building a 250 MW of facilities with a local partner in Abu Dhabi, while rival Crusoe Energy has also said it will expand into Oman and Abu Dhabi.
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