Oman, a country in the Middle East, has recently established a new data hosting and cryptocurrency mining center in the Salalah Free Zone. The center, with an estimated value of over $350 million, is expected to contribute significantly to Oman’s digital economy and create job opportunities for its citizens. This move comes as the country aims to position itself as a global hub for data hosting and mining.
The project is spearheaded by Exahertz International, a company that specializes in blockchain-based solutions. The CEO, Sam Fedows, has expressed his optimism about the future of the project, stating that it could pave the way for the establishment of more blockchain centers in Oman. The initial phase of the project involves the deployment of more than 2,000 mining machines, with an additional 15,000 devices expected to be added by October.
One of the key advantages of this mining center is its use of local infrastructure, including electricity and personnel. Fedows believes that this approach will not only boost Oman’s economy but also showcase the country’s potential in the blockchain industry. To power the mining operations, the center will utilize machines manufactured by Bitmain Technologies, a leading Chinese crypto mining company.
Meanwhile, another country in Central Asia, Kyrgyzstan, has also entered the crypto mining industry. The country has allocated $20 million to construct a mining facility near the Kambar-Ata-2 Hydro Power Plant. This strategic location allows the facility to utilize excess energy generated by the power plant, thereby avoiding wastage. President Sadyr Japarov has expressed his support for the project, citing the surplus electricity production during summer months.
However, it is worth noting that the Kyrgyzstan mining facility may experience temporary shutdowns during winter when the power plant’s productivity decreases. The construction of the facility is expected to be completed by Q2 2024.
These developments in Oman and Kyrgyzstan highlight the growing interest in cryptocurrency mining worldwide. As countries recognize the economic potential of this industry, they are investing significant resources to establish mining centers and leverage their existing infrastructure. With the increasing adoption of blockchain technology, these initiatives could pave the way for further advancements in the crypto space and contribute to the overall growth of the global digital economy.
Please note that the information provided in this article is based on reports and should not be considered as financial or investment advice.