Phoenix Group is collaborating with Green Data City to develop a $300 million cryptocurrency mining facility in Oman.
2023-08-28 01:45
Odaily News: Abu Dhabi's Phoenix Group has reached a $300 million deal with Green Data City, Oman's first licensed cryptocurrency mining company. They will develop a 150-megawatt cryptocurrency mining facility in Oman, which is set to become one of the largest mining data centers in the region by the second quarter of next year. (Source: The National)
According to Oman Observer's report on August 22, a data hosting and cryptocurrency mining center has been completed in the Salalah Free Zone, an economic zone in the country with almost no corporate taxes. Local company Exahertz International will collaborate with blockchain company Moonwalk International, based in Dubai, to operate this center.
The construction cost of this center is $370 million. It will use the latest mining machines from Bitmain and aims to install 15,000 machines by October 2023. Currently, the project is in the pilot phase with 2,000 mining machines operational, consuming 11 megawatts of power.
According to Oman Observer's report on August 22, a data hosting and cryptocurrency mining center has been completed in the Salalah Free Zone, an economic zone in the country with almost no corporate taxes. Local company Exahertz International will collaborate with blockchain company Moonwalk International, based in Dubai, to operate this center.
The construction cost of this center is $370 million. It will use the latest mining machines from Bitmain and aims to install 15,000 machines by October 2023. Currently, the project is in the pilot phase with 2,000 mining machines operational, consuming 11 megawatts of power.
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