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 spokesperson of The Mining Future. “By operating from the UAE, we can offer our clients a secure and reliable hosting environment while tapping into the country’s thriving crypto ecosystem.”

In addition to their presence in the UAE, The Mining Future is expanding its operations by opening two new state-of-the-art data centers in the Dominican Republic and in Kuwait. This move reflects the company’s commitment to securing clean energy sources and providing its clients with significantly lower rates than the market average.

The company accepts a minimum order quantity (MOQ) of just one miner, compared to the industry-standard MOQ of >10 miners allowing more individuals to participate in the Bitcoin mining network and contribute to its decentralization.

According to the data provided by the Hashrate Index, bitcoin miners in the UAE should produce approximately 13 EH/s, which is equivalent to 3.7% of the total Bitcoin hash rate at an assumed average energy efficiency of 30 J/TH. This comes as the UAE becomes an attractive hub for crypto mining. 

Marathon Digital Holdings confirmed earlier in 2023 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.

Advertisement

Leave a Reply

Your email address will not be published. Required fields are marked *