Hydro Crypto mining the star of Bitmain summit in Oman

Hydro Crypto mining the star of Bitmain summit in Oman

A manufacturer of Global crypto mining servers, Bitmain is holding its yearly event, the World Digital Mining Summit (WDMS) in Oman on March 29th 2024 at the W hotel. The theme of WDMS in Oman will be “Hydromining wins the desert”.

As per the press release, the conference will provide new financing opportunities and revitalize the market. Leading mining, finance, investment, custody and energy companies from around the world will participate in the event to help the digital currency and crypto ecosystem flourish. WDMS will provide an international platform to discuss financing mining, mine establishment, renewable energy, mining resources, PoW development and many other hot topics.

The summit will focus on hydro-mining, a cutting-edge technique promising to revolutionize the cryptocurrency mining industry. Hydro mining is an innovative approach to mining that utilizes water to cool mining equipment, a critical innovation in the heat-intensive climates of desert regions. As the industry grapples with environmental concerns, hydro-mining presents a sustainable and efficient solution for digital currency extraction.

Attendees can expect to delve into discussions on sustainability, efficiency, and the future of crypto mining technologies in the digital age. Bitmain’s initiative to hold the summit in Oman underscores the country’s emerging role as a hub for technological innovation in the Middle East.

Oman has been investing heavily in datacenters, and has attracted crypto mining entities such as Pheonix Technologies and Exahertz among others.

Phoenix group purchases $567 million of crypto mining hardware

Phoenix group purchases $567 million of crypto mining hardware

UAE Phoenix Blockchain, crypto mining group has purchased a total of $567 million of Bitcoin mining Hardware. The group made a new Bitcoin mining hardware purchase of $187 million from Bitmain, just a few months after it purchased $380 million worth of crypto mining hardware from Whatsminer.

Prior to this Phoenix Group invested in Lyvely, a UAE-based platform poised to reshape how creators and consumers interact and monetize online acquiring 25% of the company.

The landmark purchase worth $187 million is for cutting-edge mining machines from industry giant Bitmain. This strategic acquisition comes just after its IPO on the Abu Dhabi Securities Exchange (ADX).

“This latest deal, following our successful IPO and partnerships, signals our relentless pursuit of excellence and solidifies our leadership in this dynamic space,” declared Bijan Alizadehfard, Co-Founder & Group CEO of Phoenix Group. “Partnering with titans like Bitmain and Whatsminer equips us with the best tech, fuels our growth, and redefines the future of efficient and sustainable mining.”

Phoenic Group has a  market cap of $3.95 billion as of January 4th, 2024, the Bitmain deal further amplifies Phoenix Group’s hashing power and market share.

But for Phoenix Group, it’s not just about numbers. It’s about building a better future. The company remains dedicated to green practices, integrating hydro cooling technology in collaboration with both Bitmain and Whatsminer. “Our environmental responsibility is core to our values,” emphasized Munaf Ali, Co-Founder & Group MD of Phoenix Group. “Partnerships like these, coupled with our commitment to hydro cooling, pave the way for a greener blockchain future.”

This comes as the USA and crypto enthusiasts around the world await announcements of the first Bitcoin ETFs.

Oman grows its crypto mining business with new installations

Oman grows its crypto mining business with new installations

Oman continues to grow its crypto mining business amidst a crypto bull market and possible Bitcoin ETF approvals in early January across the United States. Oman based Green Data City and Italy based Alps Blockchain, through its subsidiary Alps MiddleEast SPC, have agreed to develop a blockchain data center in Oman. The crypto mining farm will be installed in the Green Data City’s hub with a first phase of 6.5MW.

Alps Blockchain will start to deploy the containerized units in January 2024, and use the latest S21 machines released by Bitmain. Alps Blockchain has long been in partnership with Bitmain, the largest manufacturer of mining equipment in the global market.

The new S21 mining ASIC reaches an efficiency rating of 16 to 17 joules per terahash (J/TH), an unprecedented performance in the market. This performance reduces the energy needed to mine and to secure the Bitcoin network.

The location of the Blockchain Bitcoin mining datacenter is energy efficient given it is located in Southern Oman where the summer temperature stays below 29 degrees celsius, naturally decreasing the cooling requirements compared to the rest of the region. In addition, the presence of cold deep ocean water will bring natural cooling in the next phases of the development and further reduce the energy needed to operate the facility to a minimum.

In addition to the geographical advantages of the location, the partners have chosen Oman because of the long-term security provided by the Green Data City mining license, the stability of the Oman Government energy policies, and the large renewable energy development plans in the Country.

This announcement follows a previous agreement in October 2023 between China’s Bitcoin crypto mining and Blockchain hardware manufacturer, Canaan and Oman’s Green Data city to pilot phase of a new crypto mining operation in Oman. The new site would also be installed in the facility of Green Data City, and under the agreement, Canaan has the option to expand the total capacity to up to 100MW.

As part of the Oman’s strategy to build  crypto mining datacentres in Oman, the first phase of Asyad Group crypto mining center was launched in August 2023 in the Free zone in Salalah.

Built and managed by Exahertz, a subsidiary of Afaq Advance Technologies firm, the first phase was inaugurated during a ceremony attended by top Omani governmental officials. The ceremony was held under the auspices of Eng. Said Hamoud Al Ma’awali, Minister of Transport, Communications and Information Technology. It was attended by HH Sayyid Marwan Turki Al Said, Governor of Dhofar.

In the same month, Oman’s Green Data City and Abu Dhabi’s Phoenix Group signed an agreement to develop a 150MW crypto-mining farm in Oman. The new farm will be set up in Green Data City was noted that it will be operational by Q2 2024, becoming one of the largest crypto-mining data centers in the region.

The first Bitcoin was mined in Oman back in December 2022.

BITMAIN enters MENA through collaboration with Oman’s Exahertz and MoonWalk Systems

BITMAIN enters MENA through collaboration with Oman’s Exahertz and MoonWalk Systems

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 performance in local conditions and challenges. An impressive highlight by Exahertz Team involves using treated grey water to efficiently cool down the data center computers.

This innovative approach maximizes efficiency while staying environmentally responsible. The treated grey water, after being thoroughly cleaned, is returned to the earth responsibly, reflecting the commitment to eco-friendly practices. Jad Fredrick Kharma, CEO of Exahertz, articulate his vision, affirming, “Our mission transcends the introduction and adoption of cutting-edge technology; we are unwavering in our commitment to elevate Oman’s proficiency and prominence within the domains of modular IT infrastructure, the innovative design of hyper-scale data centers, and the cutting-edge landscape of high-performance blockchain technology.

In Sam Ferdows’ words, the CEO of Moonwalk Systems, “We’re excited about this partnership with BITMAIN and look forward to being a key partner for them in the region. Our goal is for Exahertz Technology Park to be the benchmark for all blockchain data centers in the region and the world for hydro solutions.” BITMAIN‘s Director is equally enthusiastic about this strategic partnership. He emphasizes, “This collaboration allows BITMAIN to have a stronger presence in the region, utilizing our advanced technology.”

 

Oman mines first Bitcoin at first licensed crypto mining data center in MENA

Oman mines first Bitcoin at first licensed crypto mining data center in MENA

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 Suhail bin Mohammed al Khathiri, Deputy Wali of Mirbat, Talal al Aufi, CEO of OQ, and Olivier Ohnheiser, CEO, Green Data City.

Bitmain, Bitfield, BBGS and Enegix representative were present as well.

Green Data City will develop in two phases. The first phase of development consists of 200MW of mining capacity; the second phase will reach 400MW hyperscale data center capacity, and develop downstream activities including renewable energy, hydrogen, sea-water A/C (SWAC), desalination, food industries and cosmetics. Real estate and hospitality investments will join the development of the new hub, and create the next generation sustainable hyperscale data eco-system in the region.

Large scale mining companies and data center owners can now register directly under the GDC license and operate in the development. The capacities will be allocated in the coming weeks. Al Maawali stated, “The Ministry of Transport, Communications and Information Technology seeks to build cooperative partnerships with leading local and international private sector entities in the various types of digital technologies, as the Ministry works to attract foreign investments in this ever-developing industry.”

Olivier Ohnheiser, CEO of Green Data City, added “The south of Oman is strategically positioned  on the network routes and has unique advantages to establish successful and sustainable hyper scale data centers, such as stable economy, large surplus electricity, cool weather in the Salalah region, unique access to cold deep ocean water next to the shore, and high renewable energy.”

On the website, H.E. Ali Shidhani,  Undersecretary for Communications and Information Technology, Ministry of Transport, Communications and Information Technology “The Green Data City project has the potential to strengthen the Country’s position on the Data Processing and Blockchain markets, while creating qualified jobs and developing unique green data centers”

Olivier Ohnheiser CEO, Green Data City states on the website,“ Oman is a haven of peace, and the South is a hidden gem. Its natural advantages eclipse other locations in the region like Dubai or NEOM city, in terms of political stability and neutrality, temperate climate, cold water availability and natural wonders. The country is supporting Data and Deep Ocean industries with large and stable power supplies, backed by long term agreements. We could not have hoped for a better environment to implement this vision.”

This comes after Oman’s sovereign wealth fund took an equity stake investing $350 million in US firm Crusoe Energy which uses flared and stranded natural gas to mine crypto. Crusoe was supposedly opening an office in Oman after the investment to deply generators and mining equipment for capturing gas at well sites.

The region has become a hot bed for crypto mining, with UAE making advancements in this area. But as one notes from the comments of CEO of Green Data City, it also seems NEOM city in KSA are working on something similar.