Crypto-mining hardware retailer Phoenix Technology eyes IPO in UAE: report
A mainstream media report pointed out that mining hardware company Phoenix Technology is considering going public in Abu Dhabi, United Arab Emirates united.
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Crypto-mining hardware provider Phoenix Technology has reportedly entered into talks to conduct an initial public offering (IPO) in the United Arab Emirates, according to a Bloomber report.
The Bloomberg report cites unnamed sources who explained that discussions on this are still ongoing and details are not yet finalized.
Phoenix Technology is a United Arab Emirates-based mining operator developing one of the largest mining facilities in the Middle East. The company holds distribution rights for various technology hardware manufacturers in the Middle East, Africa and Turkey.
Cointelegraph contacted Phoenix Technology for comment, but did not receive an immediate response.
The UAE is one of the most crypto-friendly jurisdictions in the world, constantly trying to provide regulatory clarity by establishing a dedicated crypto regulator called the Dubai Virtual Asset Regulatory Authority (VARA). Apart from this, an emirate in the United Arab Emirates called Ras Al Khaimah (RAK) has established a crypto-focused free trade zone called RAK Digital Assets Oasis, more commonly known as RAK DAO.
Today we approved the Virtual Assets Act and established the Dubai Virtual Assets Regulatory Authority. A step that establishes the position of the UAE in this sector. The Authority will cooperate with all related entities to ensure maximum transparency and security for investors. pic.twitter.com/LuNtuIW8FM
— His Highness Sheikh Mohammed (@HHShkMohd) March 9, 2022Read crypto...
A mainstream media report pointed out that mining hardware company Phoenix Technology is considering going public in Abu Dhabi, United Arab Emirates united.
News
Join us on social networks
Crypto-mining hardware provider Phoenix Technology has reportedly entered into talks to conduct an initial public offering (IPO) in the United Arab Emirates, according to a Bloomber report.
The Bloomberg report cites unnamed sources who explained that discussions on this are still ongoing and details are not yet finalized.
Phoenix Technology is a United Arab Emirates-based mining operator developing one of the largest mining facilities in the Middle East. The company holds distribution rights for various technology hardware manufacturers in the Middle East, Africa and Turkey.
Cointelegraph contacted Phoenix Technology for comment, but did not receive an immediate response.
The UAE is one of the most crypto-friendly jurisdictions in the world, constantly trying to provide regulatory clarity by establishing a dedicated crypto regulator called the Dubai Virtual Asset Regulatory Authority (VARA). Apart from this, an emirate in the United Arab Emirates called Ras Al Khaimah (RAK) has established a crypto-focused free trade zone called RAK Digital Assets Oasis, more commonly known as RAK DAO.
Today we approved the Virtual Assets Act and established the Dubai Virtual Assets Regulatory Authority. A step that establishes the position of the UAE in this sector. The Authority will cooperate with all related entities to ensure maximum transparency and security for investors. pic.twitter.com/LuNtuIW8FM
— His Highness Sheikh Mohammed (@HHShkMohd) March 9, 2022Read crypto...
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