Claim BonusJust In: Oman Launches Crypto Mining and Data Center
Local news publication Oman Daily Observer highlighted that a data hosting and crypto mining facility worth about $350 million was launched in the Salalah Free Zone of Oman.
This region is known for its low corporate taxes as a special economic zone. The country already has a thriving data hosting and processing sector and this is the second mining facility to come to Oman within the last ten months.
Oman to Accelerate Economic Growth with Data Mining
The first facility was launched in November 2022 at a cost of 150 Omani rials approximated to be around $389 million. Setting up the new facility cost around 137 million Omani rials which is approximately $350 million. Together with the previously existing centre, they have a combined value of $740.4 million.
This new addition to Oman is expected to provide more jobs in the region. According to Eng Said Hamoud al Maawali, from the Ministry of Transport, Communications and Information Technology (MTCIT), the new facility will “help to accelerate the growth of our digital economy and create new opportunities for Omanis.”
Markedly, the Oman MTCIT is excited about the latest addition. The Afaaq for Advanced Technologies data hosting and crypto mining centre would be operated by Exahertz International in collaboration with Moonwalk System, a Dubai-headquartered blockchain company.
The most recently developed hardware from Bitmain Technologies will be used in this centre and 15,000 machines are expected to be running by October 2023. At the current pilot phase which is the first phase, the data hosting and processing centre has about 11 megawatts of capacity across 312,000 sqm and this can operate about 2,000 mining machines, per the report.
Crypto Mining Expands in the Middle East
Noteworthy, this is all part of a broad plan to position Oman as a leading hub for data mining and processing. Meanwhile, crypto mining seems to be making headway in regions within and around the UAE. Phoenix Technology, a UAE-based crypto mining firm is planning to expand its service to include a possible Initial Public Offering (IPO) in Abu Dhabi.
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