Oman has unveiled a state-of-the-art cryptocurrency mining center, with an estimated value surpassing $350 million. The facility, located in the Salalah Free Zone, is an initiative by Oman’s Ministry of Transport, Communications, and Information Technology (MTCIT). It is not just a testament to the nation's commitment to embracing the digital age, but also a significant step towards positioning Oman as a global data hosting and mining powerhouse.
The new center isn't Oman's first foray into the realm of cryptocurrency mining. As highlighted by local media outlets, the country had previously announced another mining facility in November 2022, which carried a hefty price tag of almost $390 million. With a combined investment nearing $740 million for both centers, the potential for invigorating the local digital economy is immense.
The brains behind the establishment of these facilities is Exahertz International. Sam Fedows, the CEO of Exahertz International, dropped hints about the potential expansion of blockchain-based centers across the Sultanate of Oman. The pilot project, already operational in the Salalah Free Zone, boasts over 2,000 machines. Plans are in motion to bolster this capacity with an additional 15,000 devices by October.
Fedows emphasized the utilization of local infrastructure, from electricity to personnel, for the crypto mining centers. He believes such an approach can significantly contribute to Oman's economic growth. Notably, the equipment used in these facilities is sourced from Bitmain Technologies, a renowned Chinese crypto mining manufacturer.
In a broader perspective, Oman isn't the only nation diving into the crypto mining industry. Kyrgyzstan, a Central Asian country, has also earmarked $20 million for the construction of a crypto mining facility. Positioned near the Kambar-Ata-2 Hydro Power Plant, this center aims to harness excess energy, particularly during periods of surplus electricity production.
