Leading cryptocurrency mining firm, Phoenix has signed a $382 million deal with Whatsminer to improve its eco-friendly mining operations. The deal according to an announcement released today will see Phoenix leverage the support of Whatsminer to integrate hydro-cooling miners to its operations. Accordingly, with the deal, Phoenix is aiming to maintain its leadership during a period when the mining industry is experiencing a huge revolution.
Meanwhile, the new deal according to Phoenix underlines the company’s “deep commitment to eco-friendly crypto mining.” The company went on to register faith in its collaboration with Whatsminer to usher the larger cryptocurrency mining industry to a ‘greener future.’ As revealed, the company is aiming to be a force to reckon with for ‘efficient and responsible mining solutions.’
However, the deal will see Whatsminer deliver eco-friendly mining equipment worth $136 million to Phoenix as the first phase of the delivery. Subsequently, the firm will complete the deal by delivering mining facilities worth $246 million. As indicated, the new deal will help fast-track the company’s pursuit of establishing world-class High-Performance Computing (HPC) data centers.
It is worth mentioning that the Phoenix Group recently became listed on the Abu Dhabi Securities Exchange (ADX). With its recent listing, the mining company is aiming to gain more relevance in the Middle East’s tech and blockchain sectors. Likewise, Phoenix will leverage the achievement to contribute massively to the digital economy and the sustainable advancement of cryptocurrency mining.
Against all odds, Phoenix has intensified its effort to shape the future of virtual finance. This focus to an extent has earned the company notable recognition in the Middle East and the global blockchain sphere at large.
How Top Executives From Phoenix Reacted to the Collaboration
The co-founder and group CEO of Phoenix, Bijan Alizadehfard reflected on the collaboration. The co-founder described the deal with Whatsminer as a milestone for the company. Similarly, Bijan Alizadehfard said the partnership highlights the firm’s strategic foresight and commitment to pioneering in the tech industry. He added that the successful listing on the ADX has further empowered the firm to pursue significant partnerships. The group CEO said that the listing will enhance the company’s capabilities in the blockchain and cryptocurrency sector.
Also, the co-founder and group MD, Munaf Ali, weighed his opinion on the deal as well. The co-founder and group MD highlighted how the development of hydro cooling technologies will help the company’s vision for sustainable and innovative mining operations. He added that the new equipment will help improve the technological capabilities of Phoenix. Lastly, the Group MD added that the recent development aligns with the company’s commitment to environmental responsibility.”