Phoenix Technology plans global expansion and announces $300 million investment

  • Karl Agren appointed as the new CEO of Phoenix Technology
  • Agren joins with plans to expand the company’s operations into new markets worldwide
  • Phoenix Technology signs an agreement and becomes the exclusive distributor of WhatsMiner in the region
  • 300 million dollars Investments to acquire, develop, maintain and operate sites around the world

DUBAIUnited Arab Emirates, October 27, 2022 /PRNewswire/ — Phoenix technologyone of the leading retailers of cryptocurrency mining hardware, is planning global expansion in 2023 – after achieving unprecedented success in 2021/2022.

The company behind the installation of the world’s largest mining farm middle East spreads its roots beyond the region. The team is developing a large-scale site in the US, which will be ready in Q2 2023, and will leverage advanced technologies such as immersive cooling.

in the Aug 2022Phoenix Technology welcomed its new CHAIRMAN, Karl Agren. He has over 20 years of technical management experience in the IT and now the crypto industry. Agren previously served as the company’s Chief Operating Officer.

Munaf Alithe Group’s CEO and co-founder, commented: “We are delighted with Carl’s new appointment, having proven his worth as COO, we look forward to Carl’s contribution to the execution of our future plans and strategies. Having a background in technology and data centers, we see Carl as the ideal person to drive our global expansion plans for new mining sites and crypto initiatives.”

Building on this success, Phoenix Technology has entered into a strategic partnership agreement with MicroBT – a blockchain and artificial intelligence based technology company focused on integrated circuit chips, products and technical services exclusive distribution partner of WhatsMiner in the region.

“I am very excited to embark on this new journey with Phoenix Technology. The company has so much potential and there is no doubt that we will grow internationally,” said Agren.

“Phoenix Technology aims to transition from a regional mining player to a global one. In other words, to develop, maintain and operate sites all over the world. We are currently concentrating on the North American markets, mainly the USA and Canada. However, we plan to expand into other regions to try to identify opportunities in undeveloped mining areas,” he added.

Agren shared that Phoenix Technology is committed 300 million dollars to invest in various sites that offer development opportunities, are under development or are currently in operation.

“We are optimistic about the general market situation and intend to invest our capital in diversified opportunities,” he said.

Phoenix Technology has redoubled its efforts to expand its operations globally while maintaining its commitment to the environment. In fact, most of Phoenix Technology’s mining rigs are connected to hydroelectric grids — the company is always interested in providing sites with green electricity.

In addition, Phoenix Technology is working closely with local communities and a crypto data center cooling company on new technologies – immersion and water cooling technologies – that will improve energy consumption by 20-30%.

As part of its expansion plan, Phoenix Technology is also working on several products that will change the mining game and help customers develop their skills. Phoenix Technology also hopes to partner with other companies that are also pushing the boundaries of mining, such as B. gas flaring to bring more technologically advanced solutions to the local market and globally.

AROUND PHOENIX TECHNOLOGY

Founded in 2015 (part of the broader corporate collective, the “Phoenix Group”), Phoenix Technology is recognized as one of the leaders in the blockchain and cryptocurrency industry with global operations of more than 700 MW around the world United States of America, Canada, Europeand the middle East.

Phoenix Technology is also currently developing one of the largest mining facilities in the world United Arab Emirates and holds exclusive distribution rights for numerous technology hardware manufacturers around the world middle East, Africaand Turkey.

Phoenix Technology, together with its subsidiaries (Phoenix Store, Phoenix Technology Consultants, Phoenix Data Center, Phoenix Science & Technology, Phoenix Trading, PTC Cloud Mining, Block One Technology, Block Zero Technology and Absolute Power Solutions), equips its customers with the latest, state-of-the-art mining hardware, custom mining equipment and hosting solutions for all mined assets.

For more information contact:

Phoenix technology: [email protected]
Enable communication: [email protected]

Photo – https://mma.prnewswire.com/media/1931234/Phoenix_Technology_Carl_Agren.jpg

SOURCE Phoenix Technology

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