- Oman has launched a new cryptocurrency mining and data center in its Salalah Free Zone, the second in 10 months.
- The center, which costs $350 million, is run by Exahertz, and Moonwalk systems, equipped with Bitmain hardware.
- As part of Oman’s push for digitalization, the facility aims to set up 15,000 machines by October 2023, supporting its economy beyond oil exports.
According to reports, Oman’s Ministry of Transport, Communications, and Information Technology (MTCIT) has opened a new data hosting and cryptocurrency mining facility in the Salalah Free Zone. The facility is estimated to be worth over 135 million Omani rials ($350 million).
According to a local media outlet, Oman Daily Observer, Oman’s authorities have introduced a second cryptocurrency mining center, following the one announced in November 2022 (worth nearly $390 million). The combined $740 million investment could significantly boost the local digital economy, create numerous job opportunities for Omani citizens, and position the country as a global data hosting and mining hub.
Exahertz International is at the Forefront of the Charge
Exahertz International is in charge of constructing these ground-breaking crypto-mining facilities. Following a successful trial period in the Salalah Free Zone, CEO Sam Fedow highlights the potential for a growing network of blockchain-based hubs throughout Oman.
The use of existing resources, such as energy and labor, in these facilities is expected to impact Oman’s economic trajectory positively.
More than 2,000 operational machines are driving the project forward, with plans to add an additional 15,000 devices by the end of the year. Additionally, expansion efforts are underway in key areas such as the Governorates of Al Jabal Al Akhtar and Al Dakhiliya, promising broader access to the benefits of these cutting-edge facilities.
Oman’s Technological Advancement
According to Fedow, Oman’s use of mining hardware from Bitmain Technologies, a leading Chinese company, demonstrates the Sultanate’s commitment to staying on the cutting edge of technological advancements. The crypto mining centers are poised to harness the potential of blockchain technology, with the potential to shape Oman’s economic landscape significantly.
Meanwhile, a crypto mining venture fueled by a $20 million investment has emerged in Kyrgyzstan, a Central Asian country. This initiative, located near the Kambar-Ata-2 Hydro Power Plant, takes advantage of the station’s abundant hydroelectric power. Kyrgyzstan has joined the ranks of countries that use renewable energy sources for cryptocurrency mining.
Oman’s steadfast steps into cryptocurrency mining and data hosting demonstrate its technological ambition and position it as a regional leader in this burgeoning sector.
The government’s forward-thinking approach and private-sector collaboration promises a prosperous future marked by economic growth and innovation. As these initiatives gain traction, they will serve as vivid examples of blockchain technology’s transformative power and potential to shape economies and industries around the world.