Bitcoin Mining UAE Holds $344M Profit

The United Arab Emirates is sitting on roughly $344 million in unrealized bitcoin mining profit, excluding energy costs, according to Arkham data.
That figure positions the Gulf state among the most financially exposed sovereign bitcoin accumulators at current market levels.

Arkham reports the UAE holds $453.6 million in bitcoin mined through state-linked infrastructure.
Production has averaged 4.2 BTC per day over the past week, with total holdings of 6,782 BTC, equal to 0.03% of bitcoin’s circulating supply.

Citadel Mining, tied to Abu Dhabi’s royal family, established large-scale operations on Al Reem Island in 2022.
In 2023, Marathon Digital Holdings and Abu Dhabi-based Zero Two announced a joint venture to develop 250 megawatts of immersion-cooled mining capacity, one of the region’s largest disclosed deployments.

How Does The UAE Compare With Other Sovereign Bitcoin Holders?

Arkham previously estimated the UAE’s mined holdings at $700 million in August 2025 when prices were higher and reported about 9,300 BTC mined.
The revision reflects market repricing rather than liquidation, as Arkham shows the UAE has not moved funds in four months.

UAE Bitcoin Holdings: United Arab Emirates now on Arkham with $700M in mined BTC

The country is now the fourth largest country identified on Arkham and Arkham is the first to identify these addresses as UAE

Finn GrantArkham

Bhutan presents a contrasting strategy.
Arkham data shows Bhutan’s Royal Government holds 5,600 BTC valued at $375 million after selling more than $100 million over five months, including roughly $29 million across three consecutive weeks in early 2026.

The United States remains the largest sovereign holder with 328,000 BTC worth $22 billion, representing 1.64% of total supply, according to Arkham.
Those assets stem primarily from enforcement actions, including seizures tied to the Bitfinex hack and Silk Road cases, while the UK holds 61,000 BTC valued at $4 billion from criminal confiscations.

What distinguishes the UAE is accumulation through industrial mining rather than asset seizures.
Still, with production steady and holdings unchanged, the next catalyst will be whether Abu Dhabi-linked entities expand capacity or begin monetizing inventory amid shifting bitcoin price conditions.