UAE owns $700M Bitcoin through mining firm Citadel, majority-owned by the Royal Group

Arkham Intelligence, an on-chain analytics platform, has officially identified and labeled Bitcoin holdings totaling $700 million as UAE’s. Since the bull run onset, the UAE has become a major player in the global crypto economy.

According to Arkhama’s announcement on X, the identified Bitcoin originates from Citadel’s mining operations. Citadel is a public miner with a majority ownership held by the UAE Royal Group through its investment arm, IHC. 

BREAKING: THE UNITED ARAB EMIRATES IS NOW ON ARKHAM

The UAE’s $700M BTC holdings are now labeled on Arkham. These holdings come from Bitcoin mining operations carried out by Citadel, a public mining company majority owned by UAE Royal Group through IHC.

Arkham is the first to… pic.twitter.com/eIGut5pJXN

— Arkham (@arkham) August 25, 2025

The news follows rumours that surfaced, led by CZ, at the end of last year with claims that the UAE has more than double the holdings of the US after several reports that claimed that it had amassed an absurd 420,000 BTC. These figures are usually linked to enforcement actions against fraudulent investment schemes and high-profile Ponzi operations reportedly shut down within the Emirates.

The UAE has taken major steps to establish the region as a global crypto hub, especially Dubai. Citadel’s mining operations align with its broader efforts to establish a favorable regulatory environment for crypto businesses. 

Governments that have mined to obtain BTC

Like UAE many governments have moved investments to Bitcoin. According to public blockchain data and legal documents, governments around the world now own roughly 463,000 BTC, which is about 2.3% of the total supply of Bitcoin. Some countries prefer to keep their holdings a secret, while others have gone public about it.

Most countries have obtained BTC through seizures. However, there are several that have strategically worked towards obtaining BTC. El Salvador spearheds that domain following guidelines set by Nayib Bukele.

The government of El Salvador had accumulated over 6,000 BTC, placing it firmly in the upper tier of Bitcoin ownership by country in 2025. That number continues to grow, with daily purchases still ongoing under the “1 Bitcoin per day” initiative.

In addition, Iran recognized Bitcoin mining as a government-controlled business since 2019. Any licensed miner must sell mined Bitcoin straight to the Central Bank. Also, Iran’s state-run payments network, Shaparak, connects domestic markets so that all mined crypto can be traced and absorbed.

Bhutan’s sovereign investment firm, Druk Holding & Investments (DHI), started mining Bitcoin using the country’s huge hydroelectric resources in 2019. So far, Bhutan has mined between 12,000 and 13,000 BTC. The government of Bhutan now owns enough Bitcoin to make up 30% to 40% of its economy, which is more than any other country.

Governments that obtained BTC by luck 

The two biggest BTC holders have not acquired the coins by mining but through seizures. The most apparent one is the US government, and by far the most conspicuous actor when it comes to Bitcoin holdings by governments. 

America has almost 200,000 BTC through several high-profile seizures, such as the Silk Road marketplace, dark web operations, and ransomware takedowns.

China is second on the list of countries holding Bitcoin in 2025, although its purchase plan remains unclear. Chinese officials shut down the PlusToken scam in 2019 and took more than 190,000 BTC. It is still unclear whether the coins were sold off or if they are just languishing in government Bitcoin wallets, untouched in cold storage. 

In addition, the UK has also managed to seize approximately 61,000 BTC during a money laundering investigation. Bulgaria’s authorities also reportedly seized over 200,000 BTC in a raid on a cybercrime network. 

Other countries that have BTC through seizures are Finland, Georgia, and Venezuela. They hold 66 BTC, 90 BTC, and 240 BTC, respectively. On the other hand, Ukraine received over $70 million in BTC donations from around the world during this war period with Russia.

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