Abu Dhabi royal-linked BTC miner quietly holds $532M in Bitcoin

Wallets tied to Citadel Mining, a Bitcoin mining facility linked to Abu Dhabi’s royal family in the UAE, are privately holding about $532 million worth of BTC, according to on-chain analytics firm Hupzy, formerly Spot On Chain, citing Arkham data. The wallets were reportedly identified by cross-checking on-chain mining activity, satellite imagery and official reports from Phoenix Group. Hupzy said the firm’s decision to hold, rather than sell, large mined BTC volumes is reducing circulating supply for now, while any future sales could have a significant market impact.