By Arkham Intelligence traces a substantial Bitcoin portfolio to Citadel Mining, an Abu Dhabi operation linked to Sheikh Tahnoon bin Zayed Al Nahyan through International Holding Company. A Bitcoin mining operation connected to Abu Dhabi’s ruling family holds approximately 7,240 BTC valued at $532 million, according to blockchain intelligence data highlighted on November 12, 2026. The holdings are attributed to Citadel Mining, a company associated with the United Arab Emirates’ Royal Group through a network of corporate investments.
Blockchain analytics firm Arkham Intelligence identified 37 cryptocurrency addresses associated with the operation, containing approximately 7,238.66 BTC at the time of the November 12 snapshot. The discovery highlights the scale of Bitcoin accumulation through mining infrastructure linked to prominent UAE investors, distinguishing the holdings from government cryptocurrency reserves acquired through asset seizures or direct purchases. However, the Bitcoin is attributed to corporate mining operations, and its association with Abu Dhabi’s ruling family does not establish that the UAE government directly owns the assets.
Citadel Mining’s Ownership Links to Abu Dhabi Royal Family
Arkham traced Citadel Mining’s ownership through several UAE-based corporate entities. According to its research, investment company 2pointzero holds an 85% stake in Citadel Mining. 2pointzero is wholly owned by International Holding Company (IHC), an Abu Dhabi-listed investment conglomerate. UAE Royal Group holds approximately 61% of IHC and is associated with Sheikh Tahnoon bin Zayed Al Nahyan, a senior member of Abu Dhabi’s ruling family. Arkham established its wallet attribution by analyzing Bitcoin mining transactions, satellite imagery of mining facilities and publicly disclosed corporate relationships.
The analysis identified mining operations established on Al Reem Island in Abu Dhabi beginning in 2022. Researchers also compared blockchain transactions involving Citadel Mining and Phoenix Group with information contained in official company disclosures. In August 2025, Arkham estimated that the operation had mined approximately 9,300 BTC and retained around 6,300 BTC. By February 2026, the tracked holdings had increased to approximately 6,782 BTC, valued at $453.6 million at the time. The latest November snapshot indicates a further increase in the Bitcoin balance, although changes in wallet attribution and transfers mean the difference cannot automatically be classified as newly mined Bitcoin.
UAE Mining Strategy Expands Amid Bitcoin Market Volatility
The UAE’s Bitcoin mining industry has expanded through partnerships involving domestic investment groups and international cryptocurrency companies. In 2023, MARA, formerly Marathon Digital Holdings, partnered with Abu Dhabi-based Zero Two to develop 250 megawatts of immersion-cooled Bitcoin mining capacity. The investment demonstrated growing interest in using the region’s energy resources and infrastructure to support large-scale cryptocurrency production. Arkham previously estimated that royal-linked mining operations were generating approximately 4.2 BTC daily in February 2026.
At that time, the company calculated approximately $344 million in unrealized gains, excluding electricity and other operating costs. That historical estimate should not be treated as the operation’s current profitability, particularly following subsequent Bitcoin price fluctuations. Unlike Bitcoin held by the United States or United Kingdom through law-enforcement seizures, Citadel’s cryptocurrency holdings are primarily associated with mining activity. The distinction matters because privately controlled mining assets do not necessarily constitute sovereign reserves available for government spending or monetary policy. The latest disclosure demonstrates the growing scale of institutional Bitcoin mining in the Middle East while highlighting the importance of distinguishing blockchain wallet attribution, corporate ownership and direct government control.