Oman Launches Second Cryptocurrency Mining Center in Digitization Push
Summary:
Oman has opened its second cryptocurrency mining center in the Salalah Free Zone as part of its plan to digitize the economy. The data hosting and mining center, operated by Exahertz in partnership with Moonwalk Systems, will have 15,000 machines operational by October 2023. The facility cost approximately $350 million and utilizes Bitmain Technologies' advanced hardware. Oman is also considering implementing a national crypto framework to regulate digital asset providers.
Oman has successfully inaugurated its second cryptocurrency mining center, as the country aims to accelerate the digitalization of its economy. The new facility, located in the Salalah Free Zone, is a data hosting and mining center operated by Exahertz in collaboration with Moonwalk Systems. With a construction cost of approximately $350 million, the center will utilize top-of-the-line hardware from Bitmain Technologies and plans to have 15,000 machines operational by October 2023. Currently, the center is operating on a pilot basis with 2,000 machines consuming 11 megawatts of power. This initiative follows the country's previous mining center opening in November 2022, which cost around $389 million. Oman is also considering the implementation of a national crypto framework that may require digital asset providers to establish a local office and adhere to certain storage and reporting requirements.
Published At
8/22/2023 8:11:56 AM
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