Phoenix Technology eyes global expansion and announces an investment of $300mln

Phoenix Technology eyes global expansion and announces an investment of $300mln

- Agren joins with plans to expand the company’s operations to new markets globally

- Phoenix Technology signs an agreement, becoming the exclusive sales partner of WhatsMiner in the region

- $300 million investment for acquiring, developing, maintaining, and operating sites around the globe

Dubai, UAE - Phoenix Technology, one of the leading cryptocurrency mining hardware retailers, is eyeing global expansion in 2023 - after achieving unprecedented success in 2021/2022.

The company behind the installation of the largest mining farm in the Middle East is spreading its roots beyond the region. The team is developing a large-scale site in the US that will be ready in Q2 of 2023 and will utilize advanced technologies, such as immersive cooling.

In August 2022, Phoenix Technology welcomed its new CEO, Carl Agren. He has over 20 years of technical management in the IT and now crypto industries. Agren has served previously as the company’s Chief Operating Officer.

Munaf Ali, the Group CEO and Co-Founder commented "We are delighted with Carl's new appointment, having proven himself as COO, we look forward to Carl's contribution to execute our future plans and strategy. Having a background in Technology and Data-centres, we see Carl as the ideal person to drive forward our global