Arkham Intelligence says bitcoin mining operations linked to the UAE’s Royal Group are sitting on roughly $344 million in unrealized profit, excluding energy costs.

Arkham attributed about 6,782 BTC to wallets connected with UAE royal-linked mining activity, valuing the holdings at approximately $453.6 million at the time of analysis. The firm said the implied profit reflects the difference between current bitcoin prices and estimated production costs, though it noted the figure does not account for electricity and operational expenses.

Arkham’s onchain data also points to a steady pace of mining output.

Over the past seven days, the UAE-linked wallets produced around 4.2…

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