Blockedge Technologies Inc., an enterprise blockchain technology platform, and UAE based Suvik Technologies FZE, a public blockchain technology company, have signed an MOU ( Memorandum of Understanding) to form a joint venture out of Dubai UAE. The join venture will create tools that empower organization to migrate to Web3 technologies. Blockedge brings its infrastructure automation platform, expertise to develop decentralized applications and interoperable blockchain solutions. At the same time, Suvik group brings its proprietary trading system for crypto assets and Plugin - a Decentralized Oracle Platform built on XDC Network. "Web3 is all about building system-backed trust to facilitate trusted peer-to-peer transactions," said Srinivas Mahankali, Chief Business Officer of Blockedge Technologies Inc. "To accelerate the adoption of Web3 technologies globally, we have come together to leverage each other's strengths to create the required infrastructure lay...

  In an SEC Filing dated January 27 th 2022, USA based Marathon digital Holdings, a digital asset mining entity, announced that it had entered into a shareholder’s agreement with FSI ( FS Innovation), the BTC mining subsidiary of UAE ADQ a sovereign fund,    to form an Abu Dhabi, ( ADGM (Abu Dhabi Global Markets) based company. As per the filing, the joint UAE ADGM based company will establish and operate one or more mining facilities for digital assets. The business entity will be in the field of digital asset/crypto mining. The initial phase will consist of two digital asset mining sites comprising 250 MW (megawatts) in Abu Dhabi UAE. Marathon Holdings will own 20% of the joint company in UAE only. The cost of the project will be $406 million. This new comes after UAE based Phoenix Technology which embarked on establishing a $2 billion crypto-mining farm in the UAE,   announced in November 2022, that the biggest crypto mining project in the region will...