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UAE is Big on BTC, $100 Million For Gaming, and Bitcoin's ETF Triumph

UAE is Big on BTC, $100 Million For Gaming, and Bitcoin's ETF Triumph

Uncovering the world’s most exciting early stage companies. Discover what’s next.

January 12, 2024

Abu Dhabi Bitcoin Miner Announces Major Scale Up

Phoenix Group (ADX:PHX) has announced a $187 million purchase agreement for new Bitcoin miners. The company owns 9 Bitcoin mining operations globally, including one of the largest in the world through a joint venture with the Abu Dhabi government, and has spent over $500 million on mining hardware since their oversubscribed IPO on the Abu Dhabi Securities Exchange.

Leading Game Studio Second Dinner Lands $100 Million

Second Dinner has raised $100 million in a round led by Griffin Gaming Partners, one of the world’s largest venture capital funds for the industry. The company’s flagship game, MARVEL SNAP, has been downloaded over 22 million times and has generated more than $200 million to date.

Bitcoin ETFs Are Finally Arriving On Wall Street

The United States Securities and Exchange Commission has approved the first ever spot Bitcoin ETFs in a landmark regulatory decision. The historic milestone for Bitcoin will allow the first 11 ETFs to officially list on major United States stock exchanges.

The Sprint

Recurrent raised $16 million to advance their technology that analyzes electric vehicle battery health over time, bringing more transparency to the EV resale market.
The Bitcoin Lightning Network has surpassed 5,000 global merchants that use the network to accept payments.
PayPal (NASDAQ:PYPL) has seen significant growth in the adoption of their stablecoin PYUSD, which now has a market capitalization of approximately $290 million.

The Markets

+78.6% | atai Life Sciences (NASDAQ:ATAI) in the past month. The psychedelic biopharmaceutical company recently invested in drug developer Beckley PsyTech. A renewed excitement has entered the psychedelic medicine space following positive Phase III clinical trial data for MDMA in the treatment of PTSD and the $100 million raise by newly-launched Lykos Therapeutics.

+39.8% | ATHA Energy (CSE:SASK, OTC:SASKF) in the past 30 days. The company has assembled the largest uranium exploration land package in Canada, primarily in the prolific Athabasca Basin which is responsible for supplying around 20% of the world’s uranium.

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