Oman Announces Nearly $800 Million in New Investments in Cryptocurrency Mining Operations

2023/08/28 01:40

August 28th, the Omani government announced a $300 million deal with Abu Dhabi's Phoenix Group. This deal will enable Phoenix Group to collaborate with Green Data City, Oman's first licensed cryptocurrency mining entity, to develop a 150-megawatt cryptocurrency mining farm, which will be launched next year. In addition, a few weeks ago, the Omani government approved a $370 million farm operated by Exahertz International, which plans to launch 15,000 machines before October. Said Hamoud al-Maawali, Oman's Minister of Transport, Communications, and Information Technology, stated in the announcement that these investments mark an "important milestone" in Oman's efforts to "accelerate growth" in the digital economy. 
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