Phoenix Group finalizes $380M investment with WhatsMiner for in green Bitcoin mining

Phoenix Group, based in the UAE, has struck a $380-million deal with WhatsMiner to acquire advanced hydro cooling mining equipment, marking WhatsMiner’s largest order in two years.

The initial purchase includes equipment worth $136 million, with an option to acquire additional hardware worth $246 million, focusing on environmentally friendly mining practices.

WhatsMiner’s hydro cooling technology utilises a closed-loop water system for efficient heat transfer, reducing operational costs and minimising environmental impact.

The collaboration between Phoenix and WhatsMiner aims to enhance high-performance computing (HPC) data centers, though the deployment locations of the new equipment are yet to be disclosed.