Binance founder Changpeng “CZ” Chao revealed The role he played in positive change in the UAE as a Bitcoin miner. Responding to posts detailing regional successes $BTC Miner CZ said he supported the project and said the statement was consistent with business interests in the area.
UAE enters Bitcoin mining in earnest
The conversation around the UAE’s pivot to gold started with Arkham. The UAE has so far mined $453.6 million worth of Bitcoin through its partner Citadel, the data platform said.
As confirmed, the country appears to hold the majority of the Bitcoin it produces, with the most recent outflow recorded about four months ago.
Arkam said that excluding energy costs, the UAE currently earns $344 million in profits from its Bitcoin holdings.
These conversations have been further complicated by Pete Rizzo’s recent statement that the UAE views Bitcoin as a store of value. He said the country currently holds more than $1 billion in assets. $BTC.
I could have been a little defensive about this. 😆 https://t.co/49pSXuU4Zg?from=article-links
— CZ🔶BNB (@cz_binance) February 19, 2026
CZ, known for his interactions with world leaders, has been pushing for Bitcoin adoption for some time. From the signing of the Memorandum of Understanding (MoU) with Kazakhstan While he does policy advocacy work as CEO of Binance in the US, his high-profile role in the UAE has precedent.
Not all countries have Bitcoin
as bitcoin price After rising to an all-time high (ATH) last year, many countries also doubled their adoption of this coin.
One of the prominent countries is Bhutan, as previously reported by U.Today. Invested $65 million in coins At that time, the country’s foreign exchange reserves exceeded $1.2 billion.
Recently, it has been confirmed that Bhutan is gradually removing its Bitcoin stash. This will look like this $BTC Production costs have fallen significantly compared to prices and have reached new highs.
This trend confirms the broader sentiment surrounding Bitcoin, as its accumulation and selling continue to fuel further price volatility. At the time of writing, the coin was trading at $66,507, down 1.73% in 24 hours.