May 17, 2025
Al Abraaj Restaurants Group Becomes the First Publicly Listed Bitcoin Treasury Company in the Middle East
Manama, Kingdom of Bahrain — Al Abraaj Restaurants Group B.S.C. (Ticker: ABRAAJ), a publicly listed company on the Bahrain Bourse, has made history as the first company in the Kingdom of Bahrain, the GCC, and the broader Middle East to adopt Bitcoin as a corporate treasury asset. This move positions Al Abraaj as a regional pioneer in digital asset strategy, following in the footsteps of global leaders like MicroStrategy, Tesla, and Metaplanet.
The company has acquired an initial 5 Bitcoin and plans to continue building its holdings as part of a broader strategy to diversify its treasury and embrace innovation in the evolving financial landscape. With a strong financial foundation—reporting a 2024 EBITDA of USD 12.5 million—Al Abraaj is committed to enhancing shareholder value by integrating Bitcoin into its asset portfolio.
To support this strategy, Al Abraaj has partnered with 10X Capital, a New York-based investment firm specializing in Bitcoin Treasury strategies. 10X recently advised Nakamoto (Nasdaq: KDLY) on its record-breaking $710 million raise—the largest capital raise for a Bitcoin-focused public company. Together with 10X, Al Abraaj plans to raise additional capital to grow its Bitcoin reserves and introduce a new performance metric: Bitcoin per share.
The company also aims to lead the development of Sharia-compliant financial instruments that provide the Islamic world with regulated access to Bitcoin exposure—an important step toward financial inclusion and innovation in the region. With this move, investors across Bahrain, Saudi Arabia, UAE, Kuwait, Qatar, and Oman can gain Bitcoin exposure by purchasing ABRAAJ stock, and international investors can participate by registering with the Bahrain Bourse.
“This milestone demonstrates our forward-looking vision and unwavering commitment to innovation and long-term value creation,” said Abdulla Isa, Chairman of the Bitcoin Treasury Committee at Al Abraaj. “Bitcoin represents a powerful store of value, and our strategy reflects confidence in its future as a global financial asset. With 10X Capital’s expertise, we’re proud to lead this movement in the Middle East.”
Hans Thomas, CEO of 10X Capital, added: “I congratulate Abdulla Isa and the Al Abraaj team for bringing Bitcoin into the corporate treasury and giving GCC investors direct access to this transformative asset. Bahrain continues to lead the region in digital finance, backed by a progressive regulatory approach.”
Al Abraaj’s decision follows rigorous due diligence and complies with the framework established by the Central Bank of Bahrain. The company will implement comprehensive governance, custody, and risk management protocols for its Bitcoin holdings. A newly formed Bitcoin Committee, comprising experienced digital asset professionals and capital markets experts, will oversee the initiative and ensure transparency through regular updates to stakeholders.
This strategic initiative marks a significant step in Al Abraaj’s 38-year history and underscores its role as a leader in Bahrain’s digital economy and financial innovation.
About Al Abraaj Restaurants Group B.S.C.
Al Abraaj is a Bahrain-based hospitality company with nearly four decades of operational success. Listed on the Bahrain Bourse, the company is known for delivering sustainable growth through strategic investments and forward-thinking financial strategies.
