Oman’s Ministry of Transport, Communications, and Information Technology (MTCIT) has reportedly unveiled a state-of-the-art data hosting and crypto mining center within the Salalah Free Zone.
Valued at over RO 135 million (more than $350 million), this groundbreaking initiative underlines Oman’s commitment to nurturing its digital economy.
This move also aligns with a larger trend seen in countries like Kyrgyzstan, where investments in crypto mining are being pursued to harness excess energy and promote economic growth.
Building upon a prior announcement in November 2022 of a crypto mining center valued at nearly $390 million, Oman is now doubling down on its efforts.
This new crypto mining center, set up by Exahertz International, is poised to bolster the local digital economy by attracting investments and generating job opportunities.
The total combined investment of $740 million from these two centers positions Oman as a burgeoning hub for data hosting and cryptocurrency mining.
Exahertz International’s CEO, Sam Fedows, indicated that this facility could be the beginning of a larger network of blockchain-based centers in Oman.
The pilot program, starting in the Salalah Free Zone, is already operational with more than 2,000 machines. The center’s capacity is set to expand further, adding an additional 15,000 devices by October.
This ambitious growth plan might extend to other regions, such as Al Jabal Al Akhdar and Al Dakhiliyah Governorate.
Fedows emphasized the use of local infrastructure, including electricity and personnel, to maximize the economic impact on Oman.
The facility relies on crypto mining machines from the renowned Chinese manufacturer Bitmain Technologies.
Fedows anticipates that these crypto mining centers will play a pivotal role in Oman’s economic development and growth. As an advocate for blockchain technology, he sees it as a transformative force shaping the country’s future.