Binance founder Changpeng Zhao stated on February 19, 2026, that he contributed to the encouragement of the United Arab Emirates in its Bitcoin mining strategy, based on new on-chain data showing that the country has mined over $453 million in BTC.
Arkham Intelligence reported that the UAE, through its partner Citadel, has mined around $453.6 million in BTC and appears to hold a majority of it. The last major outflows from related wallets were around four months ago.
UAE Accumulates Bitcoin, Long-Term Strategy
According to Arkham, the UAE currently holds about $344 million in unrealized gains, not including the costs of energy and operation. The numbers suggest that the country is not selling its mining products currently, suggesting a long-term treasury plan.
Bitcoin commentator Pete Rizzo further amplified the discussion, claiming the UAE now views BTC as a store of value and may hold over $1 billion worth of BTC. However, UAE authorities have not publicly confirmed the total size of any sovereign Bitcoin holdings.
If accurate, the accumulation would put the UAE in a small but growing list of countries exploring state-linked Bitcoin exposure through mining and treasury investments.
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Binance Pushes Bitcoin Mining Growth
CZ has been engaging governments and policymakers to encourage the adoption of digital assets. Under his leadership of Binance, an MoU was signed with Kazakhstan to support the development of crypto infrastructure, and he has also met regulators in the U.S. and other countries.
His latest statements reaffirm his stance that bitcoin mining can help diversify economies, especially for countries that have abundant resources and are looking to utilize their power supplies.
It is worth noting that the UAE is now a crypto-friendly country with supportive regulatory frameworks in place, such as the Virtual Assets Regulatory Authority (VARA) in Dubai that regulates digital assets in the emirate.
At the time of writing, BTC is trading at $66,333, down 1.93% over the last 24 hours. The broader crypto market has experienced increased volatility amid shifting macroeconomic conditions and evolving regulatory discussions worldwide.
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