The country’s bitcoin reserves come mainly from mining operations, not from seizures as initially speculated.
According to an analysis conducted by blockchain analytics platform Arkham Intelligence, the United Arab Emirates (UAE) owns around $700 million in bitcoin. This sum was accumulated primarily through mining activities.
Unlike other nations such as the United States and the United Kingdom, the UAE’s bitcoins do not come from the confiscation of criminal assets. Arkham Intelligence revealed in a post on X that the government’s wallets contain roughly 6,300 BTC, all obtained through legitimate mining operations.
The main source of these bitcoins is Citadel Mining, a company 85% owned by 2pointzero, which in turn belongs to International Holding Company (IHC). IHC is 61% owned by UAE Royal Group, a conglomerate controlled by Sheikh Tahnoon bin Zayed Al Nahyan, a member of Abu Dhabi’s royal family.
In total, Arkham estimates that through Citadel, the Emirates have mined approximately 9,300 BTC over the course of their operations.
According to BitBo data, with these recently confirmed reserves the UAE ranks sixth among state-level bitcoin holders, behind Bhutan (10,565 BTC) and ahead of El Salvador (6,280 BTC).
BitBo estimates that governments collectively hold around 517,000 BTC, representing 2.4% of total supply with a value exceeding $56 billion.
