Phoenix Group, a company listed on the Abu Dhabi Stock Exchange, has launched a 30-megawatt Bitcoin mining facility in Addis Ababa, Ethiopia. This new facility, developed in partnership with Ethiopian Electric Power, boosts Phoenix's global mining capacity by approximately 1.9 exahashes per second (EH/s). The company plans to expand further by adding 62 megawatts in Ethiopia and 44 megawatts in North America by the end of the fourth quarter, with an additional 90 megawatts anticipated in 2026.