Arkham says bitcoin mining operations linked to the UAE’s Royal Group are sitting on about $344 million in unrealized revenue, excluding vitality prices.
What Arkham says the UAE holds
Arkham’s onchain information exhibits the UAE Royal Group holds about 6,782 BTC, valued at roughly $453.6 million on the time of the report.
The info additionally confirmed a gentle manufacturing fee of about 4.2 BTC per day over the prior seven days.
Arkham added that the UAE seems to be retaining most of its self-mined bitcoin, with onchain information displaying the final fund outflow occurred 4 months in the past.
The UAE’s mining push was traced to 2022, when Citadel Mining—an entity tied to Abu Dhabi’s royal household—arrange large-scale operations on Al Reem Island.
In 2023, Marathon Digital Holdings and Abu Dhabi-based Zero Two introduced a three way partnership to develop 250 megawatts of immersion-cooled mining capability within the UAE.
Earlier estimates and provide context
Arkham mentioned its newest figures revise down an earlier estimate from August 2025, when it attributed about $700 million in mined bitcoin to the UAE throughout a interval of upper bitcoin costs.
At the moment, Arkham reported the UAE had mined about 9,300 BTC and held about 6,300 BTC, rating it fourth amongst authorities entities with verified onchain holdings.
Arkham’s present estimate implies the UAE’s holdings symbolize about 0.03% of bitcoin’s complete provide.
Different sovereign miners and holders
Arkham famous Bhutan started mining in 2019 through Druk Holding & Investments utilizing hydroelectric energy, and that because the begin of 2026 Bhutan has bought bitcoin for 3 consecutive weeks totaling about $29 million.
Over the previous 5 months, Bhutan has bought greater than $100 million in bitcoin and now holds about 5,600 BTC valued at $375 million, per Arkham.
Arkham additionally mentioned the U.S. authorities ranks first amongst sovereign holders with 328,000 BTC valued at $22 billion, with holdings tied to seizures together with the Bitfinex hack and Silk Street-related circumstances.