Blockchain analytics firm Arkham Intelligence on 25 Aug disclosed that addresses it has identified as belonging to the United Arab Emirates government hold about 6,300 Bitcoin, worth roughly $700 million to $740 million. The findings mark the first time the sovereign’s on-chain reserves have been publicly labeled, Arkham said. Arkham attributed the holdings to Citadel Mining, a publicly listed Bitcoin miner majority-owned by Abu Dhabi-based Royal Group. The coins were accumulated through the company’s own mining operations rather than open-market purchases, according to the analysis. With the stash, the UAE becomes the world’s fourth-largest state holder of Bitcoin, underscoring the Gulf nation’s growing engagement with digital assets. Separately, Abu Dhabi’s sovereign wealth fund has built a $534 million position in a Bitcoin exchange-traded fund, further highlighting institutional adoption of the cryptocurrency in the region.