BITMAIN, crypto mining leading ASIC manufacturer enters MENA through a collaboration with Oman’s Blockchain Data center and technology park Exahertz and MoonWalk. This collaboration marks a significant leap forward as Exahertz takes on the role of hosting upwards of 10,000 state-of-the-art BITMAIN machines in the pioneering Exahertz Technology Park, nestled in Salalah, Oman. According to the press release, “This isn’t just any partnership, it’s BITMAIN‘s first-ever hosting venture in the Middle East and a groundbreaking initiative for hydro computers worldwide. The Exahertz Technology Park, standing tall as the Middle East’s largest private Blockchain Data center, underscores Exahertz’ unwavering commitment to innovation and progress.” Exahertz International, recently kicked off a pilot phase of Exahertz Technology Park in Salalah. In collaboration with their strategic partners Moonwalk Systems, they rigorously testing and optimizing the hydro systems to ensure peak performanc

  In a recent press release, The Mining Future, a Bitcoin and crypto mining hosting services, has set up its headquarters in the UAE. The reason for this is the regulatory challenges being faced in China, USA, and EU as well as the rising costs. The company is also opening a datacentre in Kuwait. As per the release, The Mining Future has strategically established its headquarters in the United Arab Emirates (UAE) to capitalize on the country’s ambitious vision to become a global leader in the crypto industry. The UAE’s commitment to fostering crypto-friendly regulations, inviting startups and miners within its jurisdiction, and making significant investments to secure its position as a hub for crypto companies have been instrumental in The Mining Future’s decision to choose the UAE as its base. “We believe that the UAE’s proactive approach to regulation and its commitment to supporting the growth of the crypto industry aligns perfectly with our vision for The Mining Future,” said a

    USA based Meer Energy, Co-Founder Abdullah Han , was one of the speakers in June 2023’s 10 th Arab China Business Conference, in Riyadh KSA, under the patronage of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, where he met with positive feedback for his concept of developing a Blockchain AI Bitcoin and carbon credit mining datacenter in the country. In an interview with LaraontheBlock, Han explains why he participated at the Arab China Business Conference and how his business model was received. According to Han, Meer Energy a US based company for Bitcoin mining which utilizes flared gas to power its datacenters is working to expand its business model which includes Blockchain, AI datacenter as well as Carbon Credit tokenization to the Middle East, African and Asian region. Han believes that the future of industrialization will be driven by blockchain and AI (Artificial Intelligence) and this requires energy and hashp

  UAE based Sabre56 a hosting provider and digital asset mining consultancy, has signed a hosting deal with U.S. based GEM Mining, an institutional-grade Bitcoin (BTC) mining company. As per the agreement, Sabre56 will initially host 4, 510 of GEM mining’s BTC miners in Sabre56’s new hosting facilities in Wyoming in USA. As per the announcement, half of the miners will come online in May, and the remaining miners in June. The deal follows Sabre56’s February announcement of its US$35 million funding agreements to build 150MW of Tier 0 data centers to support blockchain infrastructure. The Company is rapidly transitioning from consulting on mining projects to constructing and hosting its own facilities, and today’s news is the first among the waitlist of miners ready to take hosting services in the new and future facilities that are currently under construction. Phil Harvey, CEO of Sabre56, stated, “We are excited to welcome our new partner - GEM Mining. Our two companies are u

  UAE digital assets infrastructure company, Zero Two, part of sovereign wealth fund ADQ, has purchased 7.3 million megawatt hours of clean energy from EWEC (Emirates Water and Electricity Company), a leading company in the integrated coordination of planning, purchasing, and supply of water and electricity across the UAE. This is the largest single purchase of Clean Energy Certificates (CECs) to date and the first in the digital assets infrastructure sector. The purchase agreement was signed by Ahmed Al Hameli, Chief Executive Officer of Zero Two; and Othman Al Ali, Chief Executive Officer of EWEC. Under the purchase agreement, EWEC will provide Zero Two with clean energy certificates to decarbonize its operations and support the company’s progress against sustainability objectives. Othman Al Ali, Chief Executive Officer of EWEC, said, “Our clean energy transaction with Zero Two provides EWEC with a unique opportunity to further accelerate the country’s energy transition and de

    Marathon Digital Holdings in a recent press release has confirmed that the company along with Abu Dhabi based Zero Two (Registered name FS Innovation), an emerging blockchain and digital assets infrastructure development company, will be launching the two digital asset mining sites with a combined capacity of 250 Megawatts in the sustainability hub of Abu Dhabi Masdar City and the port zone of Mina Zayed by the end of 2023. The joint entity registered in ADGM will work to accelerate the global digital economy while supporting the power grid of Abu Dhabi, JV) with the first large-scale immersion Bitcoin mining operations in the Middle East. To power the sites, Marathon and Zero Two intend to leverage excess energy in Abu Dhabi, increasing the base load and sustainability of the Abu Dhabi grid. Marathon and Zero Two will offset any non-sustainably produced electricity with clean energy certificates. As per previous articles the equity ownership in the ADGM Entity will be 80% f

  In a recent podcast called the Mining Pod, Fred Thiel CEO of Marathon Digital Holdings, a digital asset technology company that focuses on supporting and securing the Bitcoin ecosystem, discussed their launch in the UAE and their operating model which includes utilizing UAE’s fossil offsets and or nuclear energy. Market capitalization of Marathon Digital Holdings with a market capitalization of $1.19 billion is the world’s 4378 th most valuable company recently announced its foray into the UAE through a joint partnership with a subsidiary of sovereign wealth fund in Abu Dhabi, called FS Innovation. The new entity in UAE will set up and operate two mining sites comprising 250 MW in Abu Dhabi, with FS Innovation controlling 80% of the project. As the majority shareholder, FS will appoint four directors to the board of the new entity, while Marathon will select one. As per the filing, the two sites are estimated to cost the two companies $406 million. Thiel discussed the overall

  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 be completed in th

  Oman Ministry of Transport, Communications, and IT in partnership with Green Data City (GDC) the next generation data blockchain ecosystem, have launched the first licensed sustainable crypto mining datacenter in Oman, and the GCC.   The delegation witnessed the first Bitcoin officially mined in Oman using immersive cooling technology which will reduce electricity consumption. The crypto mining datacenter is based in Mirbat   Salalah Oman because of its cooler climate. Under this license, industrial mining companies can now register directly with GDC Mining and operate within the development. H.E. Said bin Hamoud al Maawali, Minister of Transport, Communications and Information Technology, inaugurated the Sultanate of Oman’s first crypto mining data center, set up by Green Data City. Al Maawali was joined by Dr. Ali bin Amer al Shidhani, Under-Secretary of the Ministry of Transport, Communications and Information Technology for Communication and Information Technology, Shaikh Suh

Alex Tapscott, author of Digital Asset Revolution and co-founder of the Blockchain Research Institute, hails Web3 and blockchain start-up, PermianChain for bringing the digital asset revolution to the natural resource sectors. Chapter 7 is dedicated to how blockchain creates value through natural asset tokens (NATs), mainly in oil and natural gas. Mohamed El-Masri, Founder and CEO of PermianChain and CEO of Brox Equity, explains the mechanics behind energy tokenization within a blockchain-enabled ecosystem.  El-Masri discusses how utilization of blockchain is changing the way exploration and production companies raise capital as well as how investors and consumers participate in a digital energy market with surplus or shortage.  PermianChain’s solution is a digital platform combining a blockchain, decentralized cloud storage and Web3 compatible features that supports two forms of digital economics, one being a security token and the other being a utility token. Chapter 7 of Digital Ass

  Crypto mining is an integral part of the development of crypto economies. As the MENA region opens up its economy to digitization and crypto-related activities and as the world is challenged by an ongoing energy crisis, MENA is probing to become an attractive destination for crypto mining. While the biggest crypto mining markets are currently in the USA, China, Kazakhstan and Canada, the energy crisis and the crypto bear market could help the GCC become a leading crypto mining hub. Mohamed El Masri, founder and CEO of Permianchain, which operates Bitcoin mining data centers in Canada using wasted energy, states, “The adoption and implementation of blockchain data center infrastructure can support the digital stability and financial security of the GCC region. Hypothetically, the GCC has the opportunity to attract close to $1.0 trillion in economic growth by laying the groundwork for powering the digital economy.” El Masri confirms the main challenge is calling out the financial regul

News spread in May 2022 that Central African President Faustin Archange Touadera was travelling to the UAE to oversee the launch the crypto mining company. This came after Central Africa affirmed Bitcoin as a legal tender in the country. The website African Intelligence was the news platform that mentioned the President’s visit to UAE on May 12 th 2022. LeMonde News platform stated that due to lack of infrastructure in Central African state, the mining company for Bitcoin would be located in Dubai.   Nothing else was reported on this, and no official comments were made on this by UAE officials.  This comes at a time when VARA (Virtual Asset Regulatory Authority) in Dubai UAE, stated that it would be regulating crypto mining operations. Already a sovereign wealth fund in Abu Dhabi is building one of the world’s biggest crypto mining farms with strategic advisors, Roland Berger.  In addition US Crusoe Energy, which mines Bitcoin using wasted natural gas expanded into the Middle

  Even before the UAE and specifically Dubai release their crypto mining regulations, companies have already started operating in the country. Recently 2Bminer, crypto mining hosting center with operations in the UAE, Czech Republic, and USA, signed a partnership agreement with UAE Seed Group, a company of the Private office of Sheikh Saeed Bin Ahmed Al Maktoum. The announcement and the fact that 2Bminer is present in the UAE is not surprising. Prior to this, UAE-based Phoenix Technology Consultants signed a $650 million order for crypto mining rigs as part of its expansion plans in UAE and MENA region, while a UAE Sovereign wealth Fund is building one of the biggest crypto mining farms in the region under the strategic guidance of Roland Berger. It would seem that 2BMiner is espousing its ecofriendly nature. As per 2Bminer website, their crypto mining machines mainly use hydro, wind and solar power. Sustainability is something that the UAE government is keen on. The company offer