Phoenix Group Plc · ADX:PHX
Phoenix — Q1 2025 Earnings Presentation
18 slides from Phoenix's earnings presentation, May 9, 2025
Slide 1: Earnings Call Q1' 2025
~~ PHOENIX v - ee . . *e ete - 2 70 .%e ce. ©, @ - 0, @, @ e 6% @ 5 PO ec. @, @ e, @ . e @ °° 0 ° e @ e . . ° e e . . - # @, @ e e e. @ ° *° @ e e @ ° ce. @, @ o 0. @ ec. @. @ eo, @ eo, * Earnings Call A QI' 2025
Slide 2: Disclaimer
DISCLAIMER The information contained in this presentation is for background purposes only and does not purport to be full or complete. No reliance may or should be placed by any person for any purposes whatsoever on the information contained in this presentation or on its completeness, accuracy, or
Slide 3: Presenters: Group CEO and Group CFO
Mr. Munaf Ali Mr. Sheharyar Malhi Board Member, Co-founder & Group CFO Group CEO Earnings call - Q1’2025
Slide 4: Table of Contents
5 7 Business Strategic Performance Achievements 8 9 Operational Key Highlights Metrics 10 11 Balance Sheet PnL Review Review 12 13 Table of Peer Comparison Industry Overview Contents 15 Strategic Direction
Slide 5: Business Performance - Q1' 2025
Business Performance - Q1' 2025 Phoenix Group contributed an average of 14.2 EH/s in Q1'25, with its share in the global network slightly down to 1.7%. Revenue for Q1'25 stood at $31M, down 37% QoQ, mainly due to a strategic shift toward self-mining and reduced hosting and trading activities. Self-m
Slide 6: Business Performance - Q1' 2025
Business Performance - Q1' 2025 Self-mining revenue declined 31% QoQ, partly due to the exit from the CIS region (which contributed 4.2 EH/s) in Dec-24. This was partially offset by the launch of new U.S. sites: North Dakota (2.4 EH/s) and Texas (1.2 EH/s), delivering ~50% higher efficiency and ~14%
Slide 7: Strategic Achievements - Q1' 2025
Strategic Achievements - Q1' 2025 We remain committed to strengthening our leadership in the region, with several key initiatives in progress. Here are some of the notable developments for the quarter ended: Launch of new sites in Texas and Ethiopia totaling 72 MW. In discussion with several entitie
Slide 8: Operational Metrics - Q1' 2025
Operational Metrics - Q1' 2025 * Earnings call - Q1’2025 8 Sources: PHOENIX GROUP PLC Internal Data Matrices; 1 Total BTC mined inclusive of hosting business for clients and Citadel; 2 Blended cost; *Phoenix Share in the Joint Venture investment
Slide 9: Key Highlights - Q1'2025
Key Highlights - Q1'2025 Earnings call - Q1’2025 9 Sources: PHOENIX GROUP PLC Internal Data Matrices. *As part of a force majoure event and due to vendor supply issues, we had a site shutdown for a few days which has been resolved subsequently
Slide 10: Balance Sheet Review - Q1' 2025
Balance Sheet Review - Q1' 2025 TOTAL ASSETS TOTAL DIGITAL ASSETS TOTAL EQUITY (USD MN) (USD MN) (USD MN) YoY: -8% YoY: -3% YoY: +10% QoQ: -16% QoQ: -32% QoQ: -16% 962 441 892 879 301 273 774 810 750 Earnings call - Q1’2025 10 Sources: PHOENIX GROUP PLC 2024 audited financial reports
Slide 11: PnL Review - Q1' 2025
PnL Review - Q1' 2025 REVENUE EBITDA TOTAL COMPREHENSIVE INCOME (USD MN) (USD MN) (USD MN) YoY: -55% QoQ: -37% 68.9 49.6 YoY: -247% YoY: -253% 31.3 QoQ: -282% QoQ: -1250% 99 102.3 80.2 13.6 -145.8 -156.8 MAR:24 DEC:24 MAR:25 Earnings call - Q1’2025 11 Sources: PHOENIX GROUP PLC 2024 audited financia
Slide 12: Peer Comparison - Q1' 2025
Peer Comparison - Q1' 2025 Ranked amongst top 10 bitcoin mining companies based on latest available data. $42,016 Earnings call - Q1’2025 12 Source: SEC Filing, TheMinerMag, PHOENIX GROUP PLC Internal Data Matrices
Slide 13: Industry Overview
Industry Overview Bitcoin’s Turbulent Q1: Volatility & Policy Shifts Bitcoin endured its most volatile first quarter in seven years, marked by sharp price swings and a sustained downtrend. This instability was not just market-driven—it reflected broader economic policy shifts, regulatory uncertainty
Slide 14: Industry Overview: What's Next, Q2 & Beyond
Industry Overview What’s Next: Q2 & Beyond Trump’s Pro-Crypto Momentum President Trump’s return reignited optimism in the crypto space, with Bitcoin hitting a record $108,786 on his inauguration day (Jan 20). His administration announced: A Digital Asset Working Group. Plans for a federal Bitcoin re
Slide 15: Strategic Direction
Strategic Direction 2025 & beyond . . Earnings call - Q1’2025 15
Slide 16: Strategic Direction 2025 & beyond
Strategic Direction 2025 & beyond Accelerate expansion into the US market, solidifying our position as a global leader in mining infrastructure, and reinforcing our global diversification strategy. HPC and AI-driven advancement offer Phoenix Group a key diversification avenue beyond crypto mining, w
Slide 17: Phoenix
~~ PHOENIX v
Slide 18: Connect With us
PHOENIX Soheib Ghizali — Head of Investor Relations ) Contact Email +971 4 323 9120 soheib@phoenixgroupuae.com Abu Dhabi, United Arab Emirates )) Contact 9 Address +971 4 323 9120 3412, 34 Floor, Al Magam Tower, Regus Adgm Square, Al Maryah Island, ‘Abu Dhabi, UAE Dubai, United Arab Emirates ) Conta