Phoenix Group announced that its principal executive director and shareholder Manaf Ali significantly increased his stake in the company, acquiring more than 20 million shares from their initial placement on the Abu Dhabi Stock Exchange on November 18, 2024.
As noted, the company's investments in the USA will become part of a broader strategy to increase the extraction of high-margin cryptocurrencies and expand geographical coverage in 2025 and beyond.
In the official statement, the company notes that Phoenix Group continues to assess the possibility of future inclusion in the list of public companies in the United States, considering its ongoing expansion in the bitcoin extraction sector in North America.
"Manaf Ali demonstrates his firm belief in the prospects and long-term future of the company by increasing his stake in it," said Phoenix Group in Abu Dhabi.
