The United Arab Emirates has approximately $344 million in unrealized profits from its bitcoin mining operations, according to Arkham on-chain data, making it one of the largest sovereign crypto games in the world.
Wallets linked to the UAE Royal Group currently contain approximately 6,782 BTC valued at around $450 million. Excluding energy costs, Arkham estimates the position to be very positive, reflecting the lower-than-average cost of years of industrial-scale mining compared to open market purchases.
Over the past seven days, the trade has produced around 4.2 BTC per day, suggesting the country’s mining infrastructure remains active despite bitcoin’s recent drop from late-2025 highs and broader volatility in risk assets.
The UAE’s mining push dates back to 2022, when Citadel Mining, linked to the royal family of Abu Dhabi through the International Holding Company, built large facilities on Al Reem Island.
In 2023, Marathon Digital (MARA), now rebranded as MARA Holdings, partnered with Abu Dhabi-based Zero Two to develop 250 megawatts of immersion-cooled mining capacity, one of the largest deployments disclosed in the region.
In August, when bitcoin was trading at higher levels, Arkham estimated that the UAE’s mined holdings were approaching $700 million. The latest figures reflect updated wallet tracking and lower market prices rather than significant sales; the most recent notable departures occurred about four months ago.
Unlike the United States or the United Kingdom, whose bitcoin holdings largely come from asset seizures, the UAE’s stash is the product of sustained mining. By owning most of what it produces, the Gulf nation is effectively turning energy and infrastructure into a strategic digital stockpile that compounds over time.
In a market where many miners have been forced to sell to fund their operations, the UAE appears to be doing the opposite, steadily accumulating during the drawdown.
