Summary
- Royal Group said it has mined and holds approximately 6450 Bitcoin (BTC) through its subsidiary Citadel Mining.
- Royal Group stated that it holds a majority stake in Citadel Mining.
- It reported that the UAE has recently emerged as a cryptocurrency mining hub in the Middle East through large-scale mining and infrastructure investment.
The United Arab Emirates (UAE) conglomerate Royal Group, affiliated with the Abu Dhabi royal family, has reportedly accumulated approximately 6450 BTC through Bitcoin (BTC) mining.
On the 19th (local time), crypto-focused media CryptoBriefing reported that Royal Group has been accumulating Bitcoin through the mining operations of its subsidiary Citadel Mining. Citadel Mining is a mining company in which Royal Group holds a majority stake.
The UAE has recently emerged as a cryptocurrency mining hub in the Middle East as it embarks on large-scale mining and infrastructure investment.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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