Arkham analysis suggests UAE may hold about 6,300 Bitcoin mined via Citadel, far below prior 420,000 estimates

• UAE Bitcoin holdings confirmed at ~6,300 BTC

• Most holdings originate from mining via Citadel Mining, not police seizures.

• Arkham and on-chain data estimate 9,300 BTC mined through Citadel; sovereign holdings rank sixth globally per BitBo data.

UAE Bitcoin holdings: ~6,300 BTC (~$700M) from mining, not seizures — read the breakdown and global ranking. Learn how this changes nation-state Bitcoin totals.

What are the UAE Bitcoin holdings?

UAE Bitcoin holdings are approximately 6,300 BTC (about $700 million) held in wallets identified by Arkham Intelligence and tied to Citadel Mining. Arkham reports these coins were mined through Citadel — majority owned via the International Holding Company — rather than seized assets.

How did Arkham identify UAE government wallets?

Arkham Intelligence used on-chain clustering, transaction patterns and corroborating evidence — including time-lapse satellite imagery of a Citadel facility and public company disclosures — to link addresses to Citadel Mining and affiliated UAE entities. Arkham posted findings publicly on social media platforms and shared transaction mappings consistent with official reports.

UAE’s holdings were previously speculated to be around 420,000 Bitcoin from sources such as criminal seizures. The new figures are far less impressive.

The United Arab Emirates (UAE) holds roughly $700 million in Bitcoin, largely accumulated from mining operations, according to the blockchain analytics platform Arkham Intelligence. Arkham identified wallet clusters it attributes to UAE-controlled entities that currently hold about 6,300 Bitcoin (BTC).

Arkham posted its findings publicly, stating it has become one of the first firms to map and publish wallet addresses linked to the UAE government’s mining activities. The analytics firm said these coins are attributable to mining through Citadel Mining, which is majority owned by the government-linked International Holding Company (IHC).

“Unlike the US and UK, the UAE’s holdings do not come from police asset seizures but from mining operations with Citadel Mining,” Arkham said in its public commentary.

Source: Arkham

The reported Bitcoin balance is far smaller than earlier rumors that suggested the UAE controlled roughly 420,000 BTC — a figure that, if true, would have made the Emirates the largest nation-state Bitcoin holder. Those earlier claims appear to have conflated mining, private holdings and speculative estimates.

Why is Citadel Mining tied to the UAE leadership?

Arkham said Citadel built a Bitcoin mining facility in Abu Dhabi in 2022 in conjunction with Phoenix Group (a public UAE mining company) and the IHC. On-chain transactions between Phoenix and Citadel match amounts disclosed in official filings, and satellite imagery was used to corroborate facility construction timelines.

Source: Arkham

Arkham estimates Citadel has mined roughly 9,300 BTC in total. Citadel Mining is 85% owned by 2pointzero, which is owned by IHC. The UAE Royal Group — a conglomerate tied to Sheikh Tahnoon bin Zayed Al Nahyan — holds a 61% stake in IHC, linking the mining operation to Abu Dhabi’s royal family.

How does the UAE compare with other countries’ Bitcoin reserves?

With ~6,300 BTC, the UAE would rank around sixth among countries by sovereign Bitcoin holdings, behind Bhutan (11,286 BTC) and ahead of El Salvador (6,246 BTC), according to BitBo estimates. BitBo calculates about 517,000 BTC are stored in sovereign vaults worldwide — roughly 2.4% of supply and worth over $56 billion at current prices.

The US, China and the UK are the top countries holding Bitcoin, with the UAE coming in sixth based on its recently disclosed holdings. Source: BitBo

The United States remains the largest nation-state holder (~198,012 BTC), mostly from criminal seizures. China and the UK follow with large portfolios derived from past enforcement actions. By contrast, the UAE’s position is driven primarily by mining production, not seizures.

Public analyses also note that pseudonymous entities such as Bitcoin’s presumed creator Satoshi Nakamoto are believed to control large private holdings; Arkham estimates Satoshi-linked wallets contain about 1.096 million BTC. Among corporations, Strategy (Michael Saylor’s company) holds a significant corporate treasury.

Frequently Asked Questions

How many Bitcoin has Citadel Mining mined?

Arkham estimates Citadel Mining has mined about 9,300 BTC in total. Of that, roughly 6,300 BTC are currently held in addresses Arkham attributes to UAE-controlled entities.

Are the UAE holdings from seizures or mining?

Arkham reports the UAE’s Bitcoin holdings are from mining operations via Citadel, not from police asset seizures, distinguishing the UAE from several other nation-state holders.

Key Takeaways

• Confirmed holdings: Arkham estimates ~6,300 BTC (~$700M) tied to UAE wallets.
• Source: Holdings stem from Citadel Mining operations linked to IHC and the UAE Royal Group.
• Global rank: UAE would sit near sixth among countries by sovereign Bitcoin holdings per BitBo estimates.

Conclusion

Arkham Intelligence’s on-chain analysis substantially lowers prior estimates of UAE Bitcoin holdings, showing about 6,300 BTC primarily from Citadel Mining rather than seizures. This clarification reshapes nation-state Bitcoin rankings and underscores the importance of transparent, data-driven blockchain analysis. For ongoing coverage and updates, watch official disclosures and Arkham’s published mappings.