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Oman Unveils $350 Million Crypto Mining Center

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Within Oman’s crypto Salalah Free Zone, the Ministry of Transport, Communications, and Information Technology (MTCIT) has inaugurated a cutting-edge data hosting and crypto mining center, valued at over RO 135 million (exceeding $350 million). Similarly, oman crypto Kyrgyzstan is also investing in a cryptocurrency mining center, fueled by a nearby hydroelectric station along the Naryn river.

Oman Strengthens Crypto Mining Initiative with Second Center, Eyes Global Hub Status

According to local media, Oman’s authorities have introduced a second cryptocurrency mining center following their initial announcement in November 2022, which was valued at nearly $390 million. With a combined investment of $740 million, these endeavors hold the potential to significantly enhance the local digital economy, create ample job opportunities for Oman’s populace, and position the nation as a prominent global hub for data hosting and mining.

Exahertz International, the company responsible for establishing these facilities, is spearheading the initiative. CEO Sam Fedows hinted at the possibility of a broader network of blockchain-based centers emerging across the Sultanate of Oman in the near future, with a pilot project slated for the Salalah Free Zone.

Operational Crypto Mining Project Expands with 2,000 Machines and Ambitious Growth Plans

The initiative is currently operational, encompassing over 2,000 machines, and is set to bolster its capacity with an influx of 15,000 additional devices by October. The trial phase may also extend to include other regions like Al Jabal Al Akhdar and Al Dakhiliyah Governorate.

Fedows revealed that these crypto mining centers will leverage domestic resources. Encompassing electricity and local personnel, as a means to potentially invigorate Oman’s economy. He further noted that these facilities are equipped with machines from Chinese crypto mining giant Bitmain Technologies.

Following this, the executive anticipates that the venture will hold positive implications for Oman’s progress and economic expansion. Expressing his endorsement for blockchain technology, he envisions it as a pivotal component of the future.

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Kyrgyzstan Ventures into Crypto Mining with $20 Million Investment and Energy Efficiency Focus

Kyrgyzstan, situated in central Asia, has embarked on its cryptocurrency mining journey. Through a $20 million investment in constructing a dedicated facility. Strategically positioned near the Kambar-Ata-2 Hydro Power Plant. The location ensures utilization of surplus energy generated by the plant, preventing needless wastage.

During specific periods of the year when electricity production exceeds demand. The cryptocurrency mining operation could help harness this excess energy. President Sadyr Japarov, who granted approval for the project, elucidated:

“During summer days, we have an abundance of electricity, even surpassing our requirements. To optimize our energy system, we’re enabling facilities that can effectively absorb this surplus load.”

Japarov also noted that the crypto mining operations might temporarily. Pause during winter months when the power plant’s output is comparatively lower. Completion of the facility’s construction is projected for the second quarter of 2024.

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