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 united in our vision for the mining industry, our core values of how to achieve it, and the pursuit of excellence taught in the military.
John S. Warren, CEO of GEM Mining, added, “GEM Mining is built for robust, long-term growth to drive the digital asset mining industry towards maturity. As the United States consolidates its status as the Bitcoin mining capital of the world we have – in Sabre56 – found a partner operating in the same ‘cut-to-the-chase’ way. We are delighted to place our machines with a hosting provider of such outstanding capabilities.”
In the MENA region, Sabre56 has delivered MWs of computing power.
Laraontheblock speaking to Phil Harvey asked if they had intentions to develop digital asset hosting facilities in UAE after the entrance of Marathon Digital. His response, “For almost a decade now, the UAE has been at the forefront of cryptocurrency innovation – welcoming the sector like few other places. The most recent example is the introduction of the UAE’s VARA regulation, which puts it comfortably ahead of Europe and the United States in terms of regulatory clarity.”
He added, “Marathon Digital’s move to expand mining operations to the UAE is an interesting entry, and we are closely watching the progress of their Masdar City immersion Bitcoin-mining facility. Compared to more temperate geographies, the GCC’s arid and hot climate poses a formidable obstacle to successful and efficient mining operations.”