CryptoMediaClub
Sunday, June 1, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Oman Introduces a Crypto Mining Center Valued at $350 Million (Report)

21.08.2023
A A
0
126
VIEWS
ShareShare

Oman’s Ministry of Transport, Communications, and Information Technology (MTCIT) has reportedly opened a new data hosting and cryptocurrency mining center in the Salalah Free Zone. The facility’s estimated value is over RO 135 million (more than $350 million).

Another country that decided to spend millions of dollars on a crypto mine is Kyrgyzstan, whose center will be powered by a hydroelectric station near the Naryn river.

Doubling Down

As reported by a local media outlet, the authorities of Oman have introduced a second cryptocurrency mining center after the one announced in November 2022 (valued at almost $390 million). The combined investment of $740 million could significantly boost the local digital economy, provide numerous job opportunities for Omanis, and place the country as a global data hosting and mining hub.

The company which set up the facilities is Exahertz International. Its CEO Sam Fedows hinted that a wider network of blockchain-based centers could pop up in the Sultanate of Oman in the near future, starting with a pilot in the Salalah Free Zone.

The project is already live and involves more than 2,000 machines. The capacity will be strengthened by additional 15,000 devices by October, while the trial could also cover other regions such as Al Jabal Al Akhdar and Al Dakhiliyah Governorate.

Fedows informed that the crypto mining centers will use local infrastructure (including electricity and personnel), arguing they could boost Oman’s economy. He added that the facilities use machines produced by the Chinese crypto mining manufacturer Bitmain Technologies.

Subsequently, the exec predicted that the project will be beneficial for Oman’s development and economic growth. He presented himself as a proponent of blockchain technology, seeing it as “the future.”

Kyrgyzstan’s Efforts

Kyrgyzstan – a country located in central Asia – also entered the crypto mining industry by spending $20 million to construct such a facility. It will be located close to the Kambar-Ata-2 Hydro Power Plant, so it can use excessive energy from the station.

There are some periods throughout the year when the latter produces more electricity than necessary, which could be one way to avoid wastage. Speaking on the matter was President Sadyr Japarov, who greenlighted the project:

“We have enough electricity on summer days. It even exceeds. We cannot sell anywhere. Therefore, in order to benefit the energy system, we are allowing sites that can carry the load.”

The political leader informed that the crypto mine could temporarily halt activities during winter when the power plant’s productivity is not that high. Building the facility should be finalized in Q2, 2024.

SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

Share10Tweet6ShareSharePin2

Related Posts

BitMEX Uncovers Security Flaws in North Korea’s Lazarus Group Operations
All news

BitMEX Uncovers Security Flaws in North Korea’s Lazarus Group Operations

01.06.2025
0

Key Takeaways: BitMEX uncovered major security flaws in North Korea’s Lazarus Group. A rare IP leak exposed a hacker’s location...

Read moreDetails
WEMIX Faces June 2 Delisting After Court Ruling – Can the Gaming Token Bounce Back?

WEMIX Faces June 2 Delisting After Court Ruling – Can the Gaming Token Bounce Back?

01.06.2025
Crypto Regulation Chaos: Trump Dinner, $2.5B Bitcoin Play, SEC Drops Binance Suit

Crypto Regulation Chaos: Trump Dinner, $2.5B Bitcoin Play, SEC Drops Binance Suit

01.06.2025
JD.com Stablecoin Hits Phase 2 Hong Kong Sandbox Testing and Targets Global Payments

JD.com Stablecoin Hits Phase 2 Hong Kong Sandbox Testing and Targets Global Payments

01.06.2025
Banana Gun’s 88% Snipe Wins To Be Eclipsed By Snorter Token, New Solana Meme Trading Bot Raises $260,000 in 2 Days 

Banana Gun’s 88% Snipe Wins To Be Eclipsed By Snorter Token, New Solana Meme Trading Bot Raises $260,000 in 2 Days 

01.06.2025
Load More
Next Post
Friend.tech hype unsustainable? Critics give it only months to live

Friend.tech hype unsustainable? Critics give it only months to live

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Bitcoin’s dive under $27K liquidates $100M — So why aren’t margin traders flipping bearish

Bitcoin’s dive under $27K liquidates $100M — So why aren’t margin traders flipping bearish

2 years ago
Institutional Investments in Solana DApps Reach $173M in Q3, Up 54% From Previous Quarter

Institutional Investments in Solana DApps Reach $173M in Q3, Up 54% From Previous Quarter

7 months ago

MetaTrust Labs And ChainSwap Announce Million-Dollar Deal To Enhance Cross-Chain Privacy

10 months ago
Peanut the Squirrel Hits $2B Market Cap, GOAT Hits $1B – Is New Animal Meme Coin Flockerz Next?

Peanut the Squirrel Hits $2B Market Cap, GOAT Hits $1B – Is New Animal Meme Coin Flockerz Next?

7 months ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

JD.com Stablecoin Hits Phase 2 Hong Kong Sandbox Testing and Targets Global Payments

Banana Gun’s 88% Snipe Wins To Be Eclipsed By Snorter Token, New Solana Meme Trading Bot Raises $260,000 in 2 Days 

Two NYPD Allegedly Officers Caught in Crypto Kidnapping Storm, Duties Curtailed

Bitcoin Price Prediction: Post-$827M Liquidation Carnage – Can BTC Reclaim $104k Amid ETF Inflows?

Ethereum Price Prediction: ETH at $2,517 After Sharplink Gaming’s $48M Institutional Buy-in News — SEC Filing Sparks Bullish Sentiment

BlackRock’s IBIT Sees $430M Outflow, Ending 31-Day Inflow Streak

Trending

BitMEX Uncovers Security Flaws in North Korea’s Lazarus Group Operations
All news

BitMEX Uncovers Security Flaws in North Korea’s Lazarus Group Operations

01.06.2025
0

Key Takeaways: BitMEX uncovered major security flaws in North Korea’s Lazarus Group. A rare IP leak exposed...

WEMIX Faces June 2 Delisting After Court Ruling – Can the Gaming Token Bounce Back?

WEMIX Faces June 2 Delisting After Court Ruling – Can the Gaming Token Bounce Back?

01.06.2025
Crypto Regulation Chaos: Trump Dinner, $2.5B Bitcoin Play, SEC Drops Binance Suit

Crypto Regulation Chaos: Trump Dinner, $2.5B Bitcoin Play, SEC Drops Binance Suit

01.06.2025
JD.com Stablecoin Hits Phase 2 Hong Kong Sandbox Testing and Targets Global Payments

JD.com Stablecoin Hits Phase 2 Hong Kong Sandbox Testing and Targets Global Payments

01.06.2025
Banana Gun’s 88% Snipe Wins To Be Eclipsed By Snorter Token, New Solana Meme Trading Bot Raises $260,000 in 2 Days 

Banana Gun’s 88% Snipe Wins To Be Eclipsed By Snorter Token, New Solana Meme Trading Bot Raises $260,000 in 2 Days 

01.06.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz