UAE DAMAC EDGNEX Data Center company acquires Finnish Hyperco

UAE DAMAC EDGNEX Data Center company acquires Finnish Hyperco

UAE DAMAC Group subsidiary EDGNEX Data Centers has acquired Finland data center company Hyperco expanding its reach in Europe after the UAE DAMAC Properties CEO, Hussain Sajwani, in January 2025 announced investment of $20 billion in US datacenters used for AI ( Artificial Intelligence) and crypto.

While no details were shared on the Hyperco deal. The Finnish company leverages sustainable energy resources with high connectivity for digital ecosystems.

“We plan to build a significant future capacity in the Nordics and establish a strong foothold in the market,” said Hussain Sajwani, Founder of DAMAC Group. 

Aleksi Taipale, Co-founder and CEO, Hyperco, said the company is well-positioned to meet the growing digital demands of the region and beyond, given its access to low-carbon energy and focus on scalability.

EDGNEX is on track to deliver 55 MW in the Middle East by 2025, with a projected global capacity exceeding 3,000 MW. The company is targeting over 300 MW of operational capacity by 2026, supported by a robust investment pipeline of over $3 billion, including key Southeast Asian markets.

Its European activities include a €150 million joint venture in Greece with Public Power Corporation to develop up to 25 MW and a €400 million commitment to build a 40 MW data centre in Madrid, Spain.

Investment in datacenters globally and in the Middle East is growing. It is estimated that global spending on construction of new data centers is expected to surpass US$49 billion by 2030 (source: MicKinsey & Company). With over US$1.0 trillion funding gap in renewable energy, it is believed to be an opportune time to lay the groundwork to power the advancement of compute infrastructure for a vibrant digital economy.

ADQ, an active sovereign investor with a focus on critical infrastructure and global supply chains, and Energy Capital Partners (ECP), the largest private owner of power generation and renewables in the USA, have entered into an agreement to establish a 50-50 partnership in new build power generation and energy infrastructure.

Lebanon wont get USAID if its not on the blockchain

Lebanon wont get USAID if its not on the blockchain

As the United States President Donald Trump overhauls USAID with a new name as well as a proposed integration with Blockchain, Lebanon whose USAID funds were semi frozen might need to integrate Blockchain into its digitization strategy if it wants to be able to get USAID in the future.

President Donald Trump in a recent speech at the Digital Asset Summit in New York, plans to restructure USAID and rebrand it as U.S. International Humanitarian Assistant placing it under the Secretary of State’s authority.

This is in line with Elon Musk’s call to put the U.S. Treasury department on the blockchain as well, considering it would create efficiency and help to decrease costs in government. His view is that the transparency and immutability of the blockchain technology, which ensures all transactions are visible for everyone to see for the rest of time, would eradicate alleged fraud.

Blockchain to be incorporated into USAID


As per a memo circulating among State Department staff, Trump wants to integrate blockchain technology into USAID’s procurement system to enhance security, transparency, and traceability in aid distributions.


It would leverage a blockchain to trace aid distributions and enforce payment models based on outcomes rather than inputs. “All distributions would also be secured and traced via blockchain technology to radically increase security, transparency, and traceability,” the memo reportedly reads, adding that such an approach would encourage innovation and efficiency.


The President also reportedly wants cryptocurrency and blockchain technology to feature heavily in its operations. USAID has been under scrutiny from the Trump administration since the establishment of the Department of Government Efficiency (DOGE), led by Elon Musk.

Lebanese USAID grants semi frozen

The U.S. president froze USAID payments in a January 20th under an executive order. The freezing also effected Lebanon which in 2024 alone received a total of $219 million in assistance from USAID of those $17 million came from the U.S. State Department with military aid accounting for 4% of the total funding and with remaining funds primarily supported humanitarian relief ($91 million) and education ($71 million).


The news of the freeze has had a negative effect on NGOs and their employees in Lebanon even though it was temporarily lifted in February 2025.


There are two major issues that will challenge Lebanon’s ability to received USAID, the first is level of historic corruption in Lebanese government and even claims of corruption within the NGO community, as well as lack of transparency, while the second is the lack of a digital infrastructure that can integrate Blockchain, AI, and other technologies such as digital payments into the web of aid or investment funds to the country.
If USAID will utilize blockchain and crypto, it will need to add the entities that funds are provided with to the blockchain as nodes to be able to track where money has been spent and if it has been spent correctly leading to results.

New Lebanese Cabinet under Salam discusses digital transformation

The new Lebanese Cabinet, under Prime Minister Nawaf Salam is discussing digital transformation in the public sector, after enacting the first Ministry of AI in Lebanese government.
As per news reports, a committee will be formed to oversee coordination between Lebanese Ministries, even though the digitization theme has been in discussion for years. Several previous sessions addressed this issue, dating back to the government’s adoption of the Lebanon Digital Transformation Strategy 2020-2030.


Lebanon’s Prime Minister Nawaf Salam emphasized the government’s commitment to establishing a neutral, transparent, and efficient state administration as a cornerstone of governance. He stressed that “there is no state without an administration,” as it serves as the backbone of governance and a key tool for serving citizens.
He announced that the government formed a ministerial committee to study and modernize the public sector, along with another committee to examine digital transformation in public administration.


Lebanon still has one of the most outdated governmental services sector, where almost everything needs paperwork and in person visits.


Despite this, some ministries have taken independent steps to integrate technology into their services. In 2021, the Ministry of Labor launched an online platform for work permit applications for foreign nationals. The Interior Ministry introduced an electronic criminal record service, allowing citizens to request and receive documents through OMT centers across Lebanon. The Ministry of Justice has also advanced its digital services, enabling lawyers and citizens to create online accounts on the official judicial services platform for easier access to information and remote application submissions. Most recently, the Ministry of Economy introduced an online licensing system for market and exhibition organizers in Lebanon.


Yet all these are remnants of what other governments in the region and globally were doing in the early 2000s. Previous discussions on a CBDC launch and regulation of crypto have never seen the light.

Lebanese Ministry of Health dabbles with Blockchain


The only Ministry that has dabbled with Blockchain has been the Lebanese Ministry of Health which launched MediTrack back in December 2021. The first phase was used to track medicine for Cancer and chronic illness patients whose treatment is costly. Twenty hospitals from across Lebanon attended the training at Rafic Harriri International Hospital.

Minister Abyad in a statement at the time,” The MediTrack Solution will first be utilized for medicine related to high cost treatments such as cancer and other chronic diseases. It is essential in tracing the movement of medicine and will decrease the effects of the financial crisis that Lebanon is going through because it will stop the smuggling of medicine across the border as well as stop the storage and monopolization of these medicines ensuring it gets to the patient and only the patient.”


The Minister noted that this was carried with support of World Health Organization and European Union. In September of 2021, The Lebanese Ministry of Public Health signed a five year agreement with rfxcel, part of Antares Vision Group a solution provider in digital supply chain traceability solutions, to provide a Blockchain enabled GS1-compliant traceability hub to protect the entire pharmaceutical supply chain in the country. The Blockchain enabled solution will be implemented by rfxcel’s partner Medical Value Chain (MVC), the Bahrain subsidiary of US-based AVC Global. MVC

The Future of Lebanon will depend on Blockchain, AI, and datacenters


Future of Lebanon depends on receiving investments from around the globe and the region, and for this to happen, the Lebanese government has to show not only an appetite for reforms, but also a platform that brings transparency and trust. Once again Blockchain, AI, datacenters, become the only relevant solution to bureaucracy corruption and favoritism.


Smart contracts, public access to information on the blockchain, digital asset payments either in CBDCs or stablecoins will eliminate the waste, bureaucracy and corruption that has crippled the Lebanese state for decades, as well as restore trust and confidence in the political and governmental operation of the country.

Anything less than that will not be accepted as the United States and countries in the GCC and Arab world embrace blockchain, AI, digital assets, and the future.

UAE government focuses on impact of data centers on energy sector

UAE government focuses on impact of data centers on energy sector

The UAE National Team for Reviewing the Impact of Data Centers on the Energy Sector recently held its first meeting at the Dubai headquarters of the Ministry of Energy and Infrastructure (MoEI) to explore the development of data centers in the UAE and their influence on the local energy sector.

According to a recent Research and Markets report, the United Arab Emirates Data Center Market was valued at USD 1.26 billion in 2024, and is expected to reach USD 3.33 billion by 2030, rising at a CAGR of 17.58%.

Global cloud providers such as Microsoft, Amazon Web Services (AWS), Oracle, and Alibaba are establishing and expanding their operations in the UAE data center market. AWS continues to grow its cloud footprint, capitalizing on the expanding digital economy of the country, while Microsoft has expanded its cloud operations in both Abu Dhabi and Dubai. The UAE data center market is primarily dominated by regional operators, including Khazna Data Centers, Gulf Data Hub, Moro Hub, and du. The global operator Equinix also has a significant presence in the market. The UAE data center market is also witnessing several new entrants which include Quantum Switch Tamasuk and Pure Data Centres, with Khazna Data Centers holds the highest market share of over 59% in the UAE as of H1 2024.

Given the oncoming growth in datacenter market in the UAE, the UAE National team meeting, highlighted the challenges facing data centers and ways to make them more sustainable, in addition to the importance of adopting global best practices to ensure the efficient operation of these centers.

Attending the meeting was His Excellency Eng Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at MoEI, His Excellency Eng Saif Ghubash, Assistant Undersecretary for Petroleum, Gas, and Mineral Resources at MoEI, in addition to members of the team which comprises representatives of MoEI, the Ministry of Industry and Advanced Technology, the Ministry of Climate Change and Environment, the Telecommunications and Digital Government Regulatory Authority, the Artificial Intelligence, Digital Economy, and Remote Work Applications Office, Abu Dhabi Digital Authority, Digital Dubai Authority, Digital Sharjah Authority, Sharjah Digital Department, Department of Digital Ajman, the Electronic Government Authority of Ras Al Khaimah, Smart Umm Al Quwain Department, and Fujairah Digital Government.

The team will be responsible for analyzing and reviewing the impact of data centers on energy demand, evaluating the local market and projected economic return for this key sector as well as, identifying all data centers in the country and classifying them according to specific standards. The team will also be conducting a geographical study of the distribution of current and future data centers in the country to ensure optimal infrastructure distribution, performing benchmark comparisons to review global best practices in data centers, and working on developing a federal policy aimed at regulating the operation of local data centers.

During the meeting, His Excellency Eng Sherif Al Olama said, “The formation of the UAE National Team for Reviewing the Impact of Data Centers on the Energy Sector comes as part of the country’s strategic directions towards digital transformation and enhancing sustainability in the energy sector. It is expected to contribute to the development of policies and regulations that support the sustainability of the sector and maintain the competitiveness of the UAE in the field of digital infrastructure.

He noted the need to develop innovative solutions to ensure a balance between the demands of technological development and the sustainability of energy resources, in alignment with the national goals in the field of energy and sustainability.

He also highlighted the importance of establishing a comprehensive framework that includes analytical studies and clear recommendations based on accurate data, which will contribute to making strategic decisions capable of achieving the country’s energy goals, particularly in clean and renewable energy.

This comes as Roland Berger’s recent report ” Who Pays For Tech” discusses the fact that addressing the energy challenge requires regulatory measures, technological innovation, and appropriate cloud processing pricing. Enforcing energy efficiency regulations, deploying new cooling and computing technologies, and leveraging AI to optimize data center operations will be crucial in balancing technological progress with environmental sustainability, ensuring that digital services do not impose unsustainable costs on the planet.

UAE set to launch XRG energy investment company

The UAE government is also working on its energy needs with the launch of XRG, an international energy investment company that will focus on projects across the spectrum, from gas to chemicals to low carbon fuels to energy infrastructure. The energy investment company was launched by ADNOC in November 2025 with the aim to have $80 billion in assets under management by 2035.

XRG was launched by Dr. Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar and ADNOC. He noted at the time that global energy demand is set to rise dramatically, increasing from 9,000 GW to 15,000 GW by 2035 and potentially reaching 35,000 GW by 2050—a staggering 250% increase. The rise of AI applications like ChatGPT, which consumes ten times the energy of a single Google search, is accelerating this trajectory.

Without diversified energy solutions, meeting this demand sustainably will be nearly impossible. XRG hopes to address this by optimizing energy production and usage across the spectrum—from traditional fuels to low-carbon alternatives and advanced infrastructure.

It is estimated that global spending on construction of new data centers is expected to surpass US$49 billion by 2030 (source: MicKinsey & Company). With over US$1.0 trillion funding gap in renewable energy, it is believed to be an opportune time to lay the groundwork to power the advancement of compute infrastructure for a vibrant digital economy.

HODLER Investments and EHC Investment create NEXGEN to supply critical energy infrastructure

HODLER INVESTMENTS, a UAE based investment company, headquartered in the Dubai, which includes in its portfolio energy, AI, and digital asset mining startups such as PermianChain, Brox Equity and others; and Abu Dhabi’s EHC Investment which leads multiple businesses with operations and investments across the energy, infrastructure, firefighting technology and system integration services signed a strategic partnership to launch NEXGEN.

NEXGEN aims to support the creation of a compliant digital energy market to supply critical energy infrastructure that will monetize wasted energy such as flared gas in the UAE, KSA, and Egypt for hosting global data center operators, reducing carbon emissions and contributing the Digital Energy Infrastructure (DEI) Fund, a local decarbonization innovation fund.

The strategic partnership with EHC Investment comes after HODLER announced its ongoing plans for a $500 million Digital Energy Infrastructure (DEI) Fund with the participation of UAE based GEWAN holding. The DEI will be established as a closed-ended Fund, subject to compliance and regulatory approvals. The DEI Fund has already secured soft commitments from lead investors and in-kind contributions in addition to offtake partners seeking energy and connectivity for A.I. and digital asset mining operations.

UAE XRG a Global Game Changer in the digital energy revolution

UAE XRG a Global Game Changer in the digital energy revolution

In the global race to harness computing power, energy has emerged as the defining factor. Nations and organizations alike are accelerating energy infrastructure development to meet the surging demand fueled by data-driven economies. Yet, the path to this energy transformation is fraught with complexities—from securing resources to deploying infrastructure, and finally, commercializing compute capacities for applications such as bitcoin mining and AI workloads. In this context, energy is not just the enabler but the ultimate determinant of success. This is why UAE’s XRG (xrg.com) could be a global game changer.

The Decentralization Dilemma

Can we achieve truly decentralized, sovereign digital economies with global reach when the game is so heavily reliant on power? While the technology exists to enable such an ambitious vision, the question remains whether capital can be directed toward achieving it at scale. With an estimated $1 trillion expected to be invested in energy innovation, there’s an opportunity to build global distributed energy infrastructure using modular and remote compute technologies.

By focusing on underdeveloped and marginalized regions, private capital can drive global connectivity while bypassing the bureaucratic barriers that often stifle innovation. This could foster wealth creation in areas historically disadvantaged by geopolitical agendas.

The UAE’s Digital Energy Vision

A shining example of forward-thinking energy strategy is the United Arab Emirates (UAE). Despite global economic turbulence, the UAE has proven its resilience, emerging stronger post-COVID and in the midst of regional turmoil in surrounding countries, taking a leadership position in the regional virtual asset ecosystem. From Web3 advancements to Bitcoin mining, and now AI, the UAE has embraced technology to fuel economic growth.

However, rapid technological progress also brings challenges—particularly the rising energy consumption associated with AI and deep tech. Addressing this requires bold and forward-looking investments. Enter XRG , a revolutionary international energy investment company launched by Dr. Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar.

Global Energy Demand in the AI Era

As Dr. Al Jaber highlighted, global energy demand is set to rise dramatically, increasing from 9,000 GW to 15,000 GW by 2035 and potentially reaching 35,000 GW by 2050—a staggering 250% increase. The rise of AI applications like ChatGPT, which consumes ten times the energy of a single Google search, is accelerating this trajectory.

Without diversified energy solutions, meeting this demand sustainably will be nearly impossible. XRG addresses this by optimizing energy production and usage across the spectrum—from traditional fuels to low-carbon alternatives and advanced infrastructure.

The essence of this challenge lies in the economic implications of insufficient energy infrastructure to power AI deployments. Nations that fail to establish sovereign compute capabilities could face economic stagnation. In the next five years, such nations may struggle to compete globally, reinforcing the urgency of energy-centric national policies.

The following graphs illustrate electricity demand from data centers, artificial intelligence, and digital asset mining worldwide in 2022, with a forecast for 2026, by scenario.

XRG: A Blueprint for the Future

XRG’s innovative structure embodies efficiency and adaptability. Dr. Al Jaber’s vision is rooted in maximizing every energy unit, spark, and joule—a philosophy that aligns with PermianChain’s mantra of “creating wealth from every watt.” By investing in diverse energy technologies, XRG offers a scalable model for nations to secure economic prosperity in the digital age.

At PermianChain, similar principles drive our efforts. Through our global digital energy market, we’ve aggregated over 500 MW of distributed alternative energy projects to serve underserved markets. This approach exemplifies how modern energy investments can transform underdeveloped regions by accelerating digital transformation and fostering exponential growth.

The Role of Innovation in Efficiency

Innovation is not just about finding new energy sources but about optimizing existing systems. For instance, NEXGEN, one of our companies, aligns closely with EXERGY’s strategy by adopting cutting-edge technologies to maximize energy efficiency. As global energy demand rises, such approaches will be critical, particularly in energy-intensive sectors like AI computing.

Equity in Energy Access

Equity in energy access is essential for global progress. With over 1.7 billion people living off-grid or without reliable utility connectivity, vast populations are excluded from the potential of digital economies. Distributed energy solutions offer a pathway to bridge this gap, enabling marginalized communities to participate in and benefit from the global digital revolution.

The Path Forward

By embracing a diversified and efficiency-driven approach will require collaboration, innovation, and a relentless commitment to sustainability from industry stakeholders and global public and private capital markets.

As Dr. Al Jaber rightly emphasized, reliance on a single energy source is not a viable solution. Instead, a comprehensive strategy combining traditional and emerging technologies is imperative. Only by taking this holistic approach can we meet the demands of an increasingly interconnected and data-driven world while preserving the planet for future generations.

Conclusion

The launch of XRG is more than an investment in energy; it’s an investment in the future. By championing distributed, efficient, and inclusive energy systems, the UAE is leading the charge in creating a sustainable digital economy. As nations navigate the complexities of energy transformation, the new digital energy frontier offers a powerful blueprint for aligning innovation with equity and sustainability.

In a world where energy is the key to unlocking economic growth, it’s time for global leaders to prioritize bold and forward-thinking strategies. Only then can we truly harness the potential of the digital age while ensuring prosperity for all.

Written by Mohamed El Masri, Founder of PermianChain and originally published in his blog.

Tune in to my podcast at Drilling into Crypto to explore the world of finance, energy and modern technologies.

UAE DAMAC properties investing $20 billion in US datacenters for AI and crypto

UAE DAMAC properties investing $20 billion in US datacenters for AI and crypto

UAE DAMAC Properties CEO, Hussain Sajwani, a close business partner of the Trump family will invest $20 billion in US datacenters used for AI ( Artificial Intelligence) and crypto. President-elect Donald Trump announced the $20 billion investment for data centers in the United States on January 7th 2025.

Trump said at a news conference that he believed Sajwani made the commitment because “he was very inspired by the election and wouldn’t do it without the election.” The president-elect emphasized his plans to get investments of $1 billion or more through the environmental regulatory review process quickly.

Sajwani briefly joined the news conference and said: “It’s been amazing news for me and my family when he was elected in November.”

Sajwani’s promised investment feeds into an existing boom for constructing data centers used in the development of artificial intelligence and expansion of cryptocurrency, as well as in other elements of an increasingly digital economy that relies on having greater sources of computer processing power.

In October, the financial company Blackstone estimated that the U.S. would see $1 trillion invested in data centers over five years, with another $1 trillion being committed internationally.

Sajwani would gain data centers in the United States, which thus far have not been part of his company’s EDGNEX data center portfolio. According to the company’s website, it already has or plans to build data centers in the UAE, Saudi Arabia, Turkey, Spain, Thailand and Indonesia.

Investment in datacenters globally and in the Middle East is growing. It is estimated that global spending on construction of new data centers is expected to surpass US$49 billion by 2030 (source: MicKinsey & Company). With over US$1.0 trillion funding gap in renewable energy, it is believed to be an opportune time to lay the groundwork to power the advancement of compute infrastructure for a vibrant digital economy.

Recently HODLER INVESTMENTS, a UAE based investment company, headquartered in the Dubai, which includes in its portfolio energy, AI, and digital asset mining startups such as PermianChain, Brox Equity and others; and Abu Dhabi’s EHC Investment which leads multiple businesses with operations and investments across the energy, infrastructure, firefighting technology and system integration services signed a strategic partnership to launch NEXGEN.

NEXGEN will support the creation of a compliant digital energy market to supply critical energy infrastructure that will monetize wasted energy such as flared gas in the UAE, KSA, and Egypt with the aim of hosting global data center operators, reducing carbon emissions and contributing the Digital Energy Infrastructure (DEI) Fund, a local decarbonization innovation fund.

Ethiopia signs with 25 bitcoin mining companies

Ethiopia signs with 25 bitcoin mining companies

Ethiopia Electric Power (EEP), a state-owned utility, has signed power purchase agreements with 25 bitcoin mining companies. These bitcoin companies are using Ethiopia’s surplus renewable energy from The Grand Ethiopian Renaissance Dam (GERD), a 6,450 MW hydropower project nearing completion on the Blue Nile in Ethiopia, located about 30 km upstream of the border with Sudan.

The GERD is generating $55 million over the past 10 months. As per the announcement, the collaboration with mining companies will allow Ethiopia to efficiently use its energy grid and attract foreign investments. These agreements are expected to help modernize the country’s energy infrastructure.

EEP officials noted that cryptocurrency mining could become a key factor in developing Ethiopia’s energy sector and digital economy.

Ethiopia Electric Power (EEP) has already made $55m in less than a year from power-purchase agreements with bitcoin miners. It expects to earn at least $123m in 12 months from September 2024 as more bitcoin miners come online.

The Grand Ethiopian Renaissance Dam (GERD) will be the largest hydropower project in Africa. Owned and operated by the Ethiopian Electric Power company, the 145-m-tall roller-compacted concrete gravity dam will flood 1,874 km2 at a normal pool elevation of 640 m, and will have a tributary catchment of 172,250 km2. With a volume of 74 km3 (of which 14.8 km3 is dead storage), the reservoir can hold about 1.6 years’ worth of average flow of the Blue Nile – 48.5 km3/yr – at the El Diem gage station, just below the border in Sudan (Conway 1997).

In addition Matthew Sigel, Head of Digital Assets Research at VanEck Investment firm speaking on CNBC SquakBox noted that three new BRIC members, Argentina, UAE, and Ethiopia have begun mining Bitcoin using government resources

According to him this is a trend among BRICS nations toward exploring digital assets for economic resilience and financial independence.

Tremendous urgency to circumvent the fiscal policy in USA.

He also noted in the interview that Russia’s Sovereign Wealth Fund is investing in Bitcoin mining throughout BRICS countries with the goal of settling global trade in Bitcoin.

Earlier this year, the government’s investment branch, Ethiopian Investment Holdings, announced a preliminary agreement with Hong Kong-based West Data Group for a $250 million project to enhance the nation’s digital infrastructure to support BTC mining activity.

However, challenges remain. Despite an installed capacity of 5,200 MW, over 40% of Ethiopia’s 130 million citizens still lack access to electricity. The country aims to generate 25 GW of renewable energy by 2030, but access to power remains a significant hurdle for Bitcoin mining expansion.

Luxor Technology in an X post stated, ” We participated in the second GAMA_alliance conference in Addis Ababa, Ethiopia. Ethiopia leads Africa for deployed hashrate at 600MW with much more hashrate to come. Luxor is looking forward to continuing to support miners in Africa with machine importation, & custom firmware.”

This is announced as UAE Hodler Investments, a UAE based investment company headquartered in the Dubai, which includes in its portfolio energy, AI, and digital asset mining startups such as PermianChain, Brox Equity, NEXGEN, and others; and GCL Energy Investment, subsidiary of GCL Group (Golden Concord Group), a leading Chinese integrated energy service provider that specializes in clean energy and new energy, with diversified development of related industries, have partnered to develop a distributed energy infrastructure project to power next generation distributed compute cluster data centers that are hosting AI, Blockchain and other applications.

In April 2024, Golden Concord Group signed two PPSA agreements with the Ethiopian government to explore and develop gas in the Ogaden Basin. Relevant GCL development blocks have 2P reserves of nearly 200 BCM of natural gas and 46 million tonnes of oil reserves.

As per the Memorandum of Understanding, both Hodler Investments and Golden Concord Group will co-invest in feasible and suitable energy projects applying energy optimization and sustainable energy efficient technologies. Golden Concord Group will supply critical energy infrastructure that will monetize under-utilized energy in Ethiopia, with the aim of hosting global data center operators, while reducing carbon emissions.

Aurum Equity Partners $1 billion tokenized fund to invest in datacenters in UAE and KSA

Aurum Equity Partners $1 billion tokenized fund to invest in datacenters in UAE and KSA

Aurum Equity Partners, a private equity firm, has launched a combined equity and debt tokenized $1B fund, utilizing Zoniqx’s asset real world tokenization solutions and leveraging XRP Ledger (XRPL) Blockchain, for datacenter investments in United States, UAE, KSA, India and Europe.

Zoniqx (“Zoh-nicks”) is a global fintech leader based in Silicon Valley, specializing in converting real-world assets into Security Tokens. Their compliant infrastructure enables tokenization across public, private, and hybrid blockchains, driving global liquidity and DeFi integration.

As per the press release, this initiative will harness Zoniqx’s cutting-edge Tokenized Asset Lifecycle Management (TALM) solution and the Dynamic Compliant Interoperable Security Token (DyCIST) protocol to transform Aurum Equity Partners’ assets into tokenized financial instruments. This development marks a significant step forward in integrating blockchain technology with traditional financial markets.

Key Highlights:

  1. Innovative Tokenization: Zoniqx will enable Aurum Equity Partners to launch the world’s first combined equity and debt tokenized fund, leveraging the XRPL to provide investors with greater flexibility and diversification.
  2. Global Data Centers: The initiative will establish cutting-edge data centers across the United States, United Arab Emirates, Kingdom of Saudi Arabia, India, and Europe, showcasing the scalability and global reach of tokenization technology.
  3. Enhanced Liquidity: Utilizing Zoniqx’s TALM framework, the trading of tokenized assets on secondary markets will be more efficient and accessible, offering investors improved liquidity options.
  4. Compliance and Security: The DyCIST protocol, combined with the XRPL’s built-in safety compliance features, ensures all tokenized assets adhere to global regulatory standards, including AML and KYC protocols, providing secure and compliant transactions.
  5. Interoperability: The initiative will facilitate seamless integration across multiple blockchain networks, offering flexibility and accessibility for a wide range of investors and financial institutions.

“We are excited to work with Zoniqx to bring this groundbreaking project to life,” said Venkat Bussa, CEO and Chairman, General Partner at Aurum Equity Partners. “This development aligns with our commitment to leveraging cutting-edge technology to enhance liquidity, transparency, and overall investment efficiency for our investors.”

Prasanth Kalangi, Founder and CEO of Zoniqx, added, “Working with Aurum Equity Partners on this innovative project is a significant milestone in our mission to advance asset tokenization. Our technology is designed to meet the evolving needs of the financial industry, and we are excited to demonstrate its potential in the private equity space.”

David Schwartz, CTO of Ripple and Co-creator of the XRP Ledger, added “Tokenizing private equity is another emerging use case in RWA, tackling the challenges of illiquidity and limited access in these markets. By using XRPL’s ability to process transactions efficiently and securely, Aurum and Zoniqx are showing how real-world assets can be managed more effectively harnessing a decentralized blockchain.”

During Gitex Aurum Equity Partners and DEWA signed an agreement for edge infrastructure developments.

UAE Hodler Investments and EHC Investment to develop digital energy market for AI, Blockchain digital asset datacenters

UAE Hodler Investments and EHC Investment to develop digital energy market for AI, Blockchain digital asset datacenters

HODLER INVESTMENTS, a UAE based investment company, headquartered in the Dubai, which includes in its portfolio energy, AI, and digital asset mining startups such as PermianChain, Brox Equity and others; and Abu Dhabi’s EHC Investment which leads multiple businesses with operations and investments across the energy, infrastructure, firefighting technology and system integration services have signed a strategic partnership to launch NEXGEN.

NEXGEN will support the creation of a compliant digital energy market to supply critical energy infrastructure that will monetize wasted energy such as flared gas in the UAE, KSA, and Egypt with the aim of hosting global data center operators, reducing carbon emissions and contributing the Digital Energy Infrastructure (DEI) Fund, a local decarbonization innovation fund.

The UAE is a strong supporter of the decarbonization initiative. Over the past 15 years, the UAE has invested more than US$40 billion in clean energy projects. Globally, the UAE supports green infrastructure, investing approximately $16.8 billion in renewable energy projects across 70 countries, primarily in developing nations. It has also provided over $400 million in aid and soft loans for clean energy initiatives.

Moustafa Rashad, Chief Executive Officer of EHC Investment added, “Our partnership with HOLDER INVESTMENTS will solve various challenges facing the energy sector in MENA. We believe that modern technology coupled with smart capital can accelerate decarbonization and address the renewable funding gap. This partnership will address market challenges of commercializing wasted and underutilized energy, while streamlining regulatory compliance for this newfound digital energy market, ensuring compliance with key systems and controls.”

Mohamed El Masri, Managing Director of HOLDER INVESTMENTS, stated, “Our strategic alliance with EHC Investment will accelerate our mission to build distributed energy infrastructure to power compute clusters that optimize wasted energy resources and build equitable energy infrastructure that strengthens the regional position for integrating data mining systems that support a sovereign digital economy.”

The strategic partnership with EHC Investment comes after HODLER announced its ongoing plans for a $500 million Digital Energy Infrastructure (DEI) Fund with the participation of UAE based GEWAN holding. The DEI will be established as a closed-ended Fund, subject to compliance and regulatory approvals. The DEI Fund has already secured soft commitments from lead investors and in-kind contributions in addition to offtake partners seeking energy and connectivity for A.I. and digital asset mining operations.

Ahmed Ebrahim, Managing Director of Hodler Investments, explained, “Through this strategic partnership with EHC Investment, we are ensuring that the evolving regional market for modern data center applications will be built on equitable energy systems that will power on site, and remote data mining farms, including edge computing, bitcoin mining, AI and other critical compute applications.”

Ali Al Gebely, Managing Director of EHC Holding, stated, “We are very pleased to have signed this strategic partnership with HODLER Investments, given the growth that we are witnessing in the MENA region when it comes to the digital economy incorporating AI applications, Blockchain, IoT and others. The partnership is aligned with our goal of shaping a clean energy transition for a sustainable future. We believe public and private investments play a critical role in driving innovation.”

Alaa Al Ali, Founder & Group CEO, Gewan Holding comments, “We are proud of our direct affiliation with Hodler Investments which resulted in the ongoing establishment of the Digital Energy Infrastructure Fund to support such innovative initiatives as we look to streamline sustainable capital to accelerate decarbonization projects in the region, enabling carbon offset opportunities and optimized cash flow from energy assets.”

First Solana and now BridgeTower set up Blockchain digital asset platforms in UAE

First Solana and now BridgeTower set up Blockchain digital asset platforms in UAE

Deus X Capital, a $1 billion family-office backed investment and operating company and Bridgetower Capital, a leading provider of digital asset and blockchain infrastructure with $800 million, have partnered to launch BridgeTower Middle East in ADGM (Abu Dhabi Global Market) in the UAE.

Tim Grant, CEO of Deus X Capital, and Cory Pugh, CEO of Bridgetower Capital, will lead the newly formed entity that is the first of many expected partnerships between the two companies.

The company which will also have a presence in Dubai is set to launch and operate an institutional grade digital asset infrastructure platform to facilitate the rapid growth of digital assets business in the UAE and Middle East/GCC Region.

The company is self-funded and brings more than $250 million of delegated assets for turnkey staking, alongside years of digital asset and capital deployment experience and resources available through Bridgetower and Deus X.

BridgeTower ME will offer turnkey institutional staking, a secure service that will see Bridgetower ME validate transactions across some of the world’s largest blockchains that it is bringing to the region.

It will also offer advanced data center capabilities including AI GPU services over blockchain networks. Bridgetower ME will produce and distribute AI GPU compute power generated from its proprietary bare metal server infrastructure and data center capabilities.

In addition the platform will also offer private equity/venture building facilitation, to support and grow the blockchain digital asset ecosystem in the UAE region, and its customizable Web3 commerce platform, to service prominent brands who are evolving products and services into digital asset opportunities.

This includes participation by large global consumer brands, global art markets, and partnerships with global sports clubs, associations and athletes amongst others.

It is anticipated the Board of Directors will utilize long-term capitalization options aligning with its commitment to the country, including liquidity events such as a public listing on the Abu Dhabi stock exchange, ADX.

“Staying true to our road map of global expansion and partnering with top companies, it’s a rare privilege to see Deus X and Bridgetower partner to create Bridgetower ME as one jointly owned, Abu Dhabi entity,” said Bridgetower Chairman and CEO Cory Pugh. “We will bring substantial assets forward to the newly formed Bridgetower ME. We have tremendous respect for the UAE business culture and regulatory approach to digital asset infrastructure and look forward to investing resources to both incubate and bring new opportunities to the UAE.”

“We are delighted to have the opportunity to work with Abu Dhabi to incorporate a company that is solely focused on making the country the global leader in digital assets and fintech,” said Deus X Capital CEO Tim Grant. “Our mission is to help bring about a new financial ecosystem that is cheaper, fairer and more accessible for everyone, and this is an enormous opportunity to help achieve that goal in the region.”

Arvind Ramamurthy, Chief of Market Development at ADGM said “Bridgetower ME is making exciting moves as they look to strategically contribute to the development of the digital asset infrastructure in the UAE and throughout the MENA region, by establishing their presence in Abu Dhabi. ADGM’s comprehensive regulatory framework for digital assets provides a solid ground for leading players in this sector and creates a business-friendly environment for their development and operations expansion. We look forward to Bridgetower ME participation in ADGM’s vision of technological innovation and excellence, and its contribution to positioning Abu Dhabi as a global hub for digital assets.”

This announcement comes after Solana also set up its presence in ADGM announcing a partnership to enhance distributed ledger technology and blockchain innovation.

The Solana Foundation is a non-profit organization dedicated to decentralization, adoption, and security on Solana network.

As per the press release, the collaboration between ADGM and the Solana Foundation will further expand ADGM’s existing offerings by exploring opportunities for joint initiatives and projects related to the development of the blockchain company ecosystem in Abu Dhabi.

Hamad Al Mazrouei, CEO of ADGM Registration Authority, stated, “Our strategic alliance with the Solana Foundation marks a key milestone in cementing ADGM’s leadership in the blockchain sector, and represents a direct reflection of the effectiveness of our DLT Foundations Framework and our commitment to the growth and the development of the blockchain sector. We are excited to partner with Solana to pioneer the future of technology, and further enhance the level of knowledge in the space of blockchain by emphasizing the value of regulation and compliance in ensuring robust and sustainable development. We are confident that this significant collaboration will lead to bolstering the blockchain ecosystem and driving further innovative initiatives in Abu Dhabi and the UAE.”

The UAE has emerged as a global hub for innovation and adoption of blockchain technology, said Lily Liu, President of the Solana Foundation. “Working closely with ADGM is a significant step forward in the continued growth of blockchain adoption in the region as a whole, and advances the Solana Foundation’s goal of fostering innovation, security, and widespread adoption on the Solana network in the Middle East.”

In November 2023, IOTA DLT Foundation announced that it had been registered as the first foundation under the DLT Foundations Regulations at ADGM ( Abu Dhabi Global Markets.

Phoenix group’s IPO to be the first crypto blockchain IPO in UAE

Phoenix group’s IPO to be the first crypto blockchain IPO in UAE

UAE Crypto mining entity Phoenix Group announced on Linkedin, their eminent preparation for a landmark IPO (Initial public offering) on the Abu Dhabi Securities Exchange.

As noted on LinkedIn, “We’re thrilled to announce that we are gearing up for a landmark Initial Public Offering (IPO) on the Abu Dhabi Securities Exchange. As a pioneering technology conglomerate specializing in cutting-edge blockchain and crypto solutions, this marks a significant milestone for us and the UAE. We’re the first crypto and blockchain entity to be listed in the #UAE.”

Founded in 2017 by Bijan Alizadeh and Munaf Ali, Phoenix is set to be the first privately owned crypto and blockchain entity to be listed on a Middle East stock market.

In an interview Bijan Alizadeh, Phoenix Group CEO and Munaf Ali, the Phoenix Group’s managing director stated, “Our journey, originating from the heart of Abu Dhabi, has always been visionary, looking beyond borders and horizons. Today, as we stand at the cusp of this significant milestone, we are not just announcing an intention to IPO – we are sharing our commitment to a future where technology knows no boundaries.”

The company aims to be able to help create a more resilient, inclusive, and diversified global blockchain economy, and listing is just the first step towards achieving that goal.

Alizadeh adds,“Our aim has always been to champion innovation and contribute to Abu Dhabi’s positioning in the global tech landscape. This landmark announcement offers local, regional and global investors the opportunity to participate in making this iconic vision, a reality.”

Phoenix Group  has a total installed capacity of 725 MW across the UAE, Oman, US, Canada and Commonwealth of Independent States (CIS) countries, Phoenix specialises in a range of services, from high-performance computing to crypto and cloud mining, data centre hosting, crypto trading, and crypto mining products and equipment.

Earlier this month Phoenix group announced that it had sold 10% of its company shares to Abu Dhabi conglomerate International Holding Company’s subsidiary.

This announcement came at the heels of an agreement between Muscat-based Green Data City and Phoenix Group to develop a $300 million crypto-mining farm in Oman. The 150-megawatt farm, which will be one of the largest crypto-mining data centers in the region, will be installed in Green Data City, the entities said in a joint statement.