Abu Dhabi-listed Bitcoin miner Phoenix Group (ADX: PHX) reported revenue of $42.3mn for the six months to 30 Jun, down from $60.4mn a year earlier, according to interim financial statements signed off by the board on 16 Jul. The group's net loss narrowed to $91mn from $182.8mn in the same period last year, while total liabilities held broadly flat at $50.7mn against $50.5mn at the end of 2025.
The company's auditor, RAI Audit and Tax Services, flagged in its review that the interim statements rely on Phoenix's ability to generate sufficient cash through the mining and sale of digital assets to meet its obligations, though it did not modify its conclusion on that basis. The figures come ahead of Phoenix's full results announcement and earnings call, expected later this month, when the company is likely to detail the drivers behind the swing.
