Oman launches a new $350 million crypto mining center, marking its second major investment in the digital currency sector since November 2022.
Oman has started a new crypto mining center, their second big one after November 2022.
Oman’s Transport, Communications, and IT Ministry has opened a cryptocurrency mining and data center in the Salalah Free Zone. It's worth more than $350 million.
Doubling Investment in Crypto Mining
Local news says Oman has now two crypto mining centers. The total investment is $740 million. This can help the local digital business, give jobs to Oman's people, and make Oman a main place for data and crypto mining.
The company making these centers is Exahertz International. CEO Sam Fedows said more blockchain centers might come in Oman. The first one is in the Salalah Free Zone.
This project has over 2,000 machines now. 15,000 more machines will be added by October. It might also expand to places like Al Jabal Al Akhdar.
Fedows said these centers will use Oman's resources like electricity and workers. The machines are from a Chinese company, Bitmain Technologies.
Benefits for Oman
Fedows believes this project will help Oman grow. He sees blockchain technology as the future.
