Oman has taken a significant step in its digitalization journey with the launch of a cryptocurrency mining facility valued at $350 million.
This mining center is the second to open in the country within the last 10 months, demonstrating Oman’s increasing interest in the crypto and blockchain space.
Named the Afaaq for Advanced Technologies data hosting and Cryptocurrency mining center, the facility is located in the Salalah Free Zone to transform and expand the country’s digital economy.
Oman is recognized as an oil-dominated country which, although not a member of OPEC, is “one of the participating countries of the ‘Declaration of Cooperation’, and has a long and rich history of collaboration with OPEC, spanning nearly three decades.”
The nation which posted a budget surplus of $1.71 billion in H1 2023, wants to expand its scope beyond oil, thereby exploring cryptocurrency mining as an option.
In addition to this new facility, a $389 million mining center was launched in November last year.
Furthermore, Oman’s government recently initiated a consultation paper on a national crypto framework, indicating its intention to establish a regulated environment for digital asset providers.
The framework might require local offices for digital asset providers, emphasize security measures, and encourage transparency.
During the inauguration event, Eng Al Maawali, the Minister of Transport, Communication, and Information Technology, emphasized the importance of the new data centers as a pivotal step in Oman’s digital transformation journey.
He emphasized that these centers will contribute to boosting the digital economy and generating fresh opportunities for Omanis.
Eng Al Maawali also commended Afaaq for Advanced Technologies for its role in establishing the data centers, considering the company a key player in the data hosting and processing sector that will greatly benefit Oman’s digital economy.
Sam Ferdows, CEO of Moonwalk Systems and Strategic Partner of Exahertz International, revealed plans for an expanded network of blockchain-based data centers in Oman, beginning with a pilot project in Salalah.
During the inauguration event of the facility, Eng Al Maawali, the Minister of Transport, Communication, and Information Technology, highlighted the significance of the new data centers as a pivotal step in Oman’s digital transformation journey.
He emphasized that these centers will contribute to boosting the digital economy and generating fresh opportunities for Omanis.
Eng Al Maawali also commended Afaaq for Advanced Technologies for its role in establishing the data centers, considering the company a key player in the data hosting and processing sector that will greatly benefit Oman’s digital economy.
Sam Ferdows, CEO of Moonwalk Systems and Strategic Partner of Exahertz International, revealed plans for an expanded network of blockchain-based data centers in Oman, beginning with a pilot project in Salalah.
