$300M Crypto-Mining Hub Set for Oman by Phoenix Group & Green Data City

Image Credits: CryptoAvanza

  • Oman’s Green Data City and Abu Dhabi’s Phoenix Group have partnered to establish a $300M crypto-mining hub.
  • The facility, capable of using 150 megawatts of energy, will be located in Muscat and will begin operations in mid-2024.
  • The Phoenix Group, known for its expertise in the Middle East, has also been involved in a US project.

On August 14, 2023, something big happened in Oman. The Green Data City in Muscat and the Phoenix Group in Abu Dhabi teamed up to create a new place for crypto-mining. They’re planning to build a special facility for mining digital currencies like Bitcoin. This facility will be really powerful, capable of using 150 megawatts of energy.

The important event took place at the Ministry of Transport, Communication, and IT. Some important people were there, like H.E. Minister Saeed Al Maawali and H.E. Hisham Malak from the Phoenix Group. Hisham Malak is also connected to the Department of Finance in Abu Dhabi.

This new crypto-mining place will start working around the middle of 2024. It will be set up inside the Green Data City. This will be a top-notch center for mining digital currencies, and it will be one of the biggest in the area.

Phoenix Group

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The Phoenix Group is well-known for being leaders in the mining world in this region. They even have support from a company called MicroBT. They know a lot about mining and have done big projects in the Middle East. They’re not just staying in this area though – they’re working on a big project in the US too.

They thought a lot about where to put this new project, and they decided on Oman. There were good reasons for this choice. First, the Green Data City has a license that guarantees safety for mining. Also, the Ministry of Transport, Communication, and IT has the same goals as them, like using digital money and advanced computer stuff. Lastly, Oman’s weather is cool, especially in a place called Dhofar. This cool weather is great for saving energy because they won’t need as much power to keep everything cold.

And there’s more to this than just making money. The people running this project really care about the environment and the community. They have a plan to build the new facility in a way that doesn’t hurt the Earth too much. They’ll use special solar covers and get help from local experts.

They’re also thinking about education. They want to work with students from Oman’s universities. They hope to teach them about digital money and new ways of doing business online.

Green Data City

The Green Data City has already done some good work. They started testing their ideas in November 2022. Some local and international businesses joined in, using special cooling systems that don’t waste too much water.

Looking ahead, the Green Data City will keep working closely with the Ministry of Transport, Communication, and IT. They want to make a good environment for mining digital money. This means using less energy, using more renewable energy, and making fair agreements for the people doing the mining.

About Green Data City

Green Data City holds Oman’s inaugural license for eco-friendly crypto-mining in the cooler Salalah climate. This permit allows mining companies to sign up with GDC Mining and work within the project. The initial phase offers 200MW mining capacity, with the second phase expanding to 400MW hyperscale data center capacity. This expansion also encompasses renewable energy, hydrogen, sea-water A/C, desalination, food, and cosmetics sectors. The initiative will also incorporate real estate and hospitality investments to establish a cutting-edge sustainable data ecosystem in the region.