Oman’s Ministry of Transport, Communications, and Information Technology (MTCIT) has inaugurated a cutting-edge data hosting and cryptocurrency mining facility in the Salalah Free Zone. The center, valued at an impressive RO 135 million (equivalent to more than $350 million), signals Oman’s continued foray into the digital economy.
This development follows the footsteps of the November 2022 announcement about Oman’s initial cryptocurrency mining center, valued at nearly $390 million. With this second investment, totaling $740 million, Oman seeks to bolster its local digital ecosystem, create a surge in job opportunities for its citizens, and establish itself as a global hub for data hosting and mining.
Exahertz International, the company spearheading this initiative, envisions a future network of blockchain-based centers within the Sultanate of Oman. The company’s CEO, Sam Fedows, revealed plans for a pilot project in the Salalah Free Zone, potentially serving as the foundation for a wider network of centers.
The newly operational crypto mining center is already active, boasting a fleet of more than 2,000 machines. Plans are underway to bolster its capacity with an additional 15,000 devices by October. This expansion will extend beyond the Salalah region to encompass areas like Al Jabal Al Akhdar and Al Dakhiliyah Governorate, according to Fedows.
Crucially, Exahertz International is keen to leverage local resources, including electricity and a skilled workforce, in its operations. The company has chosen machines manufactured by Chinese crypto mining giant Bitmain Technologies to drive the mining processes within the facility.
In a statement, Fedows emphasized that the establishment of crypto mining centers holds the potential to catalyze Oman’s economic growth. He views blockchain technology as a pivotal driver of the future, underscoring its transformative impact on various sectors.
Kyrgyzstan Joins Oman in Crypto Mining, Investing $20 Million in New Facility
Kyrgyzstan has made a strategic entry into the crypto mining industry by earmarking a substantial $20 million investment for the construction of a cutting-edge mining facility. This move aims to harness excess energy generated by the nearby Kambar-Ata-2 Hydro Power Plant, providing a solution to the challenge of energy surplus during specific periods of the year.
The new mining facility is strategically located in close proximity to the Kambar-Ata-2 Hydro Power Plant, capitalizing on its surplus electricity production. President Sadyr Japarov, a key proponent of the project, expressed his enthusiasm for the initiative, highlighting the potential benefits it brings to the national energy ecosystem:
Addressing concerns related to the project’s environmental impact and sustainability, President Japarov emphasized that the crypto mining operations at the facility could be temporarily paused during the winter months. This pause aligns with the reduced productivity of the Kambar-Ata-2 Hydro Power Plant during colder periods, ensuring responsible energy consumption.
The construction of this pioneering crypto mining facility is set to reach completion in the second quarter of 2024, as reported by official sources. This venture signifies Kyrgyzstan’s proactive approach towards embracing new technologies while maximizing its energy resources efficiently.
