A fresh viral claim says the UAE government has mined $455 million worth of Bitcoin through “Citadel,” but the figure appears to be a market-value snapshot tied to previously reported UAE-linked mining activity rather than a newly disclosed official number.
On-chain researchers have previously attributed UAE-linked Bitcoin holdings to mining operations connected to Citadel Mining/Citadel Technologies, a UAE-based entity tied to the country’s corporate ecosystem, which has led to recurring posts that reframe those estimates with new dollar values as Bitcoin’s price moves.
Key Takeaways
- Arkham Intelligence previously said UAE-linked wallets held roughly 6,300 BTC and that about 9,300 BTC had been mined via Citadel-linked operations.
- At around $66,911 per BTC on February 19, 2026, 6,300 BTC would be about $421.5 million, meaning a $455 million headline likely reflects a different price point or a different BTC count.
- “Citadel” in this context refers to a UAE mining business (Citadel Technologies / Citadel Mining), not the U.S. market-maker Citadel Securities.
- Reuters reporting on IHC’s formation of 2PointZero noted Citadel Technologies as part of the portfolio and described it as operating a crypto mining plant in Abu Dhabi.
- No public UAE government balance sheet disclosure is required for social-media valuation claims, so readers should treat circulating dollar figures as estimates unless corroborated by filings or official statements.
What the $455 Million Figure Likely Represents
The “$455 million” number is best understood as an estimate rather than a hard accounting disclosure. Arkham’s August 2025 research note put UAE-linked Bitcoin holdings at “almost $700M” at the time, alongside an estimate that the wallets held about 6,300 BTC and that roughly 9,300 BTC had been mined in total through Citadel-linked mining operations.
Because Bitcoin’s price changes daily, headlines that convert BTC to dollars can swing sharply without any underlying change in coin balances. Using a spot price of about $66,911 per BTC on February 19, 2026, 6,300 BTC would be approximately $421.5 million, while 9,300 BTC would be about $622.3 million, making $455 million consistent with either a higher BTC price than today or a different BTC count being referenced.
What On-Chain Analysts Have Reported About UAE-Linked Bitcoin
Arkham Intelligence said it labeled UAE-linked addresses on its platform and attributed the holdings to Bitcoin mining operations carried out through Citadel, describing the acquisition method as mining rather than seizures. The report also stated the UAE-linked wallets had mined about 9,300 BTC in total and still held around 6,300 BTC at the time of publication.
Cointelegraph separately summarized Arkham’s findings, reporting that the UAE held about $700 million in mined Bitcoin, with the BTC mined through Citadel Mining and linked through ownership structures involving International Holding Company (IHC).