The Sultanate of Oman has launched a new crypto mining center, the second mining facility to open in the country in ten months.
Costing 135 million Omani reals (about 370 million U.S. dollars) to build, the center will use the latest hardware from Bitmain Technologies and will have 15,000 machines installed by October 2023.
Currently, the project is in a pilot phase with 2,000 machines running online and consuming 11 megawatts of electricity, the report said.
The mining facility is part of a plan to accelerate the digitization of Oman’s economy, which relies heavily on oil exports.
Another mining center opens in November 2022 with an investment of OMR 150 million (US$ 389 million).
In 2022, electricity tariffs for operators in the country will be Rs 0.064 ($0.166) per kWh. The government of Oman released a consultation paper on a national encryption framework in summer 2023. The framework may require virtual asset providers to set up local offices in Oman.