Arkham Says UAE Holds About $740 Million in Bitcoin via Citadel Mining

Blockchain-analytics firm Arkham said it has identified on-chain wallets holding about 6,300 Bitcoin—currently valued at roughly $740 million—as belonging to the United Arab Emirates government. The coins were accumulated through Citadel Mining, a publicly listed miner that is majority-owned by the Royal Group via International Holding Company, according to Arkham’s research.

The disclosure would make the UAE the world’s fourth-largest sovereign holder of Bitcoin, Arkham added. The holdings originate from the Gulf state’s government-backed mining operations rather than direct market purchases, marking the first time the size of the UAE’s reserve has been publicly documented.

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