On-chain intelligence firm Arkham has revealed that a mining company linked to the United Arab Emirates' Royal Group holds a massive 6,782 Bitcoin (BTC), valued at approximately $453–454 million. The data indicates the wallets are connected to Citadel Mining, a company majority-owned by 2PointZero, which itself operates under the Abu Dhabi-based holding conglomerate International Holding Company (IHC).
A key finding is the company's disciplined holding strategy. The majority of the mined Bitcoin appears to be held, with no significant outflows recorded over the past four months. Excluding energy costs, the unrealized profit on this Bitcoin hoard is estimated to be around $344 million. This points to a long-term accumulation strategy rather than short-term profit-taking to fund operations.
Citadel Mining built its Bitcoin position through industrial-scale mining operations, not open-market purchases. The operation is run in Abu Dhabi, benefiting from comparatively low energy costs, which is a critical advantage for mining profitability. The company is reported to have steadily increased its assets since commencing operations.
This holding represents one of the largest sovereign-linked Bitcoin reserves acquired through means other than seizure. While the United States and United Kingdom hold larger amounts, much of that stems from confiscations. El Salvador holds a similar amount (approx. 7,000 BTC) via direct purchases, and Bhutan has accumulated a significant sum through mining. The UAE's approach is distinct: it produces its own Bitcoin, creating a sustainable flow independent of market buys or seizures.
The scale of the operation is institutional. According to data from The Block, Citadel Mining, as the Royal Group's operational vehicle, consistently produces about 4.2 BTC daily. At current prices, this translates to roughly $300,000 in daily revenue generation. While the 6,782 BTC is a small fraction of the total Bitcoin supply, its consistent accumulation and holding reduce circulating supply, contributing to a tightening market.
"The Royal Group's $344 million unrealized Bitcoin mining profit represents more than financial success," said Dr. Elena Rodriguez, a blockchain economist at the Global Digital Assets Institute. "It signals institutional validation of proof-of-work consensus mechanisms at scale."
This development strengthens the narrative of institutional and state-linked accumulation. It demonstrates how energy-rich regions can convert energy into digital assets. If these assets continue to be held rather than sold, the supply-side pressure could increase. The Royal Group, while not directly the UAE state treasury, is a private company with royal connections, indicating the serious approach some regional players are taking towards Bitcoin.
