Oman launches new $370 million cryptocurrency mining center

2023/08/22 08:36

Sultanate of Oman has launched a new cryptocurrency mining center, which is the second mining facility opened in the country within ten months. The construction cost of this center is 135 million Omani rials (approximately 370 million US dollars), and it will use the latest hardware from Bitmain Technologies. By October 2023, 15,000 machines will be installed. The report stated that the project is currently in the pilot phase, with 2,000 machines running online, consuming 11 megawatts of electricity. This mining facility is part of the acceleration of Oman's digital economic plan. Oman's economy mainly relies on oil exports. Another mining center opened in November 2022, with an investment of 150 million Omani rials (389 million US dollars). In 2022, the electricity price of the country's operators was 0.064 rupees per kilowatt-hour (0.166 US dollars). The Omani government issued a consultation paper on the national encryption framework in the summer of 2023. The framework may require virtual asset providers to establish local offices in Oman.
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