UAE joins top sovereign holders as Bitcoin treasury strategy expands
The United Arab Emirates (UAE) reportedly holds 6,300 BTC worth around $700 million, according to blockchain analytics firm Arkham Intelligence.
The majority of these holdings were accumulated through Citadel Mining, a company primarily owned by the UAE government’s International Holding Company (IHC), reports Cointelegraph.
Unlike the U.S. and U.K., which acquired most of their BTC via asset seizures, the UAE built its reserves through active mining operations. Previous speculation suggested UAE controlled 420,000 BTC worth $46 billion, but Arkham’s findings debunk these claims, putting the country’s stash far lower than rumored levels.
Royal-backed Citadel Mining drives UAE’s BTC strategy
Citadel Mining, founded in 2022 in partnership with the Phoenix Group and the IHC, operates one of the region’s largest Bitcoin mining facilities in Abu Dhabi. According to Arkham, on-chain data aligns with satellite imagery confirming mining activity at the site. Citadel is 85% owned by 2pointzero, a holding company under the IHC, which itself has a 61% stake from the UAE Royal Group, linked to Sheikh Tahnoon bin Zayed Al Nahyan.
Through Citadel, the UAE has mined an estimated 9,300 BTC since operations began, demonstrating a long-term state-backed strategy to strengthen its Bitcoin exposure via domestic infrastructure rather than asset acquisitions.
UAE ranks sixth among nation-state Bitcoin holders
With its reported reserves, the UAE ranks sixth globally in nation-state Bitcoin holdings, sitting between Bhutan (11,286 BTC) and El Salvador (6,246 BTC). The U.S. leads with 198,012 BTC, mostly obtained through criminal seizures, followed by China (194,000 BTC) and the U.K. (61,245 BTC). According to BitBo, sovereign nations collectively hold around 517,000 BTC, representing 2.4% of the total Bitcoin supply.
Despite these figures, Satoshi Nakamoto remains the largest holder, controlling approximately 1.096M BTC, while Michael Saylor’s Strategy (MSTR) leads corporates with 629,376 BTC in its treasury. The UAE’s growing position highlights its broader strategy to become a significant player in the Bitcoin ecosystem while diversifying its national reserves.
Recently we wrote that Japan is preparing a sweeping overhaul of its financial system as part of its drive to become an international hub for capital management and investment, with digital assets and investor taxation at the heart of the reform agenda.
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