The United Arab Emirates is sitting on about $344 million in unrealized profits from its bitcoin mining, according to onchain data from Arkham, making it one of the world’s most significant sovereign crypto games.
Wallets linked to the UAE Royal Group currently hold around 6,782 BTC worth around $450 million. Excluding energy costs, Arkham reckons the position is deep in the green, reflecting the lower-than-average costs of years of industrial-scale mining compared to open market purchases.
Over the past seven days, the operation has produced around 4.2 BTC per day, suggesting that the country’s mining infrastructure remains active despite bitcoin’s recent decline from late 2025 highs and broader volatility across risk assets.
UAE mining dates back to 2022, when Citadel Mining, linked to the Abu Dhabi royal family through the International Holding Company, built large facilities on Al Reem Island.
In 2023, Marathon Digital (MARA), now renamed MARA Holdings, entered into a partnership with Abu Dhabi-based Zero Two to develop 250 megawatts of immersion-cooled mining capacity, one of the largest announced installations in the region.
In August, when bitcoin was trading at higher levels, Arkham estimated the UAE’s mining to be closer to $700 million. The latest figures reflect updated wallet tracking and lower market prices rather than larger sales, with the last notable outflows occurring around four months ago.
Unlike the US or the UK, whose bitcoin holdings derive mainly from asset seizures, the UAE’s stash is the product of sustainable mining. By owning most of what it produces, the Gulf nation is effectively turning energy and infrastructure into a strategic digital reserve that is enhanced over time.
In a market where many miners have been forced to sell on weakness to fund their operations, the UAE appears to be doing the opposite, steadily accumulating due to the pullback.
