The state-owned mining company Citadel Mining from the UAE has accumulated 6,786 BTC. Analysts at Arkham estimate the value of these coins to be approximately $450 million.
THE UAE MINED $450M BITCOIN
The UAE has so far mined $453.6M Bitcoin through their partners Citadel. It appears that they are holding the majority of the Bitcoin they produce, with their most recent outflows 4 months ago.
Excluding energy costs, the UAE is currently in profit… pic.twitter.com/HcB2CYBQgy
— Arkham (@arkham) February 19, 2026
According to researchers’ calculations, excluding energy costs, the UAE’s unrealised profit from mining the leading cryptocurrency is about $350 million.
Back in August 2025, Arkham reported that the country held 6,300 BTC, which were then valued at $700 million.
Most of the coins are held in wallets affiliated with Citadel Mining, with the last outflow recorded four months ago.
The firm is a subsidiary of the UAE Royal Group, owned by members of the Abu Dhabi royal family. The mining project was launched in 2022 in partnership with Phoenix Group, constructing a large data centre on Al Reem Island.
According to BitcoinTreasuries, the UAE government ranks sixth in terms of accumulated digital gold.
The top three leaders are the USA (328,372 BTC), China (190,000 BTC), and the United Kingdom (61,245 BTC).
Collectively, these countries hold 646,687 BTC — 3.07% of the total supply of the first cryptocurrency. Their value exceeds $42 billion.
In December, Tether and Circle announced that they had received regulatory documents from the Financial Services Regulatory Authority of the Abu Dhabi Global Market.
