TechFlow news, according to local media Oman Daily Observer, the Sultanate of Oman has launched a data hosting and cryptocurrency mining center in the Salalah Free Trade Zone, marking the country's second mining facility opened within 10 months.
The center is operated by local company Exahertz in partnership with Dubai-based blockchain firm Moonwalk Systems.
The report stated that the construction cost was approximately 135 million Omani rials (about 350 million USD), with plans to install 15,000 Bitmain mining machines by October 2023. The center is currently testing 2,000 machines, consuming 11 megawatts of electricity.
This initiative aims to accelerate the digitalization of Oman’s economy, which heavily relies on oil exports. In November 2022, the country launched another mining center with an investment of 150 million rials. In 2022, Oman’s commercial electricity rate was 0.166 USD per kilowatt-hour.
The Omani government conducted public consultations during summer 2022 regarding a national regulatory framework for cryptocurrencies. The proposed framework may require virtual asset service providers to establish local offices in Oman, hold fewer hot wallet assets, and conduct asset audits.
