Cryptominer Phoenix Group Pivots to AI and HPC with 18MW Data Center in France
May 13, 2026
Cryptominer Phoenix Group Pivots to AI and HPC with 18MW Data Center in France
Abu Dhabi-listed cryptocurrency and digital asset infrastructure firm Phoenix Group is making a strategic push into AI and high-performance computing (HPC) data centers, marking its first European deployment with an 18MW facility in Lyon, France. The move signals a broader industry shift as crypto miners increasingly repurpose their energy and operational expertise to meet surging demand for AI infrastructure.
The company announced a partnership with DC Max, a recently formed data center investor and operator affiliated with European real estate firm Freo Group, to develop the project in the Lyon suburb of Dardilly. Phoenix said it has already secured land, permits, grid connection, and available power for the site. Construction is scheduled to begin in July 2026, with delivery expected between Q4 2027 and Q1 2028.
Phoenix Group, founded in 2017 and listed on the Abu Dhabi Securities Exchange, claims a global portfolio totaling 550MW across six markets, including the UAE, Oman, Ethiopia, Canada, and three sites in the United States. With the Lyon project, the company is targeting 1GW of combined AI and HPC capacity across Europe and the Gulf Cooperation Council (GCC) region.
“What we are announcing today is not an incremental step; it is a genuine inflection point for Phoenix and for what an Emirati company can achieve on the global stage,” said Munaf Ali, co-founder and group CEO of Phoenix Group. “We are establishing a presence at the heart of European AI infrastructure, bringing the conviction and capital to build something that will compound in value for years to come.”
DC Max, which describes itself as a data center investor, developer, and operator, claims a pipeline portfolio totaling 2GW of capacity, with five owned sites across France and Germany, alongside planned developments in Spain, Italy, Norway, and the United Kingdom. Its projects range from 3MW to 300MW. Romain Fremont, CEO of DC Max, noted that the partnership unlocks the ability to move quickly on secured power positions. “Phoenix brings exactly the kind of operational scale and capital discipline that French data center development has been waiting for,” he said. “The demand is there. The sites are there. What this partnership adds is the ability to deliver.”
Freo Group, founded in 1996, is an international real estate and private markets investment manager with over 60 projects totaling more than 2.4 million square meters developed across office, retail, hotel, industrial, and multi-use properties in Europe and the US. While not traditionally known for data center developments, the firm has previously been linked to a large data center campus proposal in Rostock, Germany. Ali added, “The 1GW ambition is not a ceiling; it is a starting point. I am proud that it is a company headquartered in Abu Dhabi that is leading this charge, and I believe this is precisely the kind of bold, global move that our shareholders, our partners, and the UAE’s own AI ambitions deserve.”
Source: datacenterdynamics
