Oman to host summit of global crypto miners tomorrow
In a nod to the Sultanate of Oman’s growing prestige as a destination for crypto mining investments, leading figures from the international mining and blockchain community are due in Muscat tomorrow, March 29, 2024, to attend the Global Digital Mining Summit (WDMS 2024) set to take place at the W Hotel Muscat.
Backed by BITMAIN, the world’s leading manufacturer of crypto-currency mining servers, the daylong event will focus on the theme, ‘Hydro-mining Wins the Desert’, referencing the importance of deploying energyefficient, water-cooled solutions to achieve stable computing power in hot desert settings, such as Oman.
Over the past couple of years, Oman has issued licenses to investors in data mining farms worth an estimated $800 million who have been drawn by the country’s business-friendly investment environment, as well as access to competitively priced electricity.
Data mining is a hugely energy-intensive operation, the success of which necessitates access to relatively cheap power, say experts.
Of late, Salalah in Dhofar Governorate has emerged as a major draw for investors attracted by its moderate year-round weather and proximity to ocean water resources necessary to cool the servers via a technique known as ‘hydro-mining’.
“Global Digital Mining Summit (WDMS) — hosted by BITMAIN, a premier event in the digital mining industry — brings together top leaders in mining and blockchain from around the world to discuss the latest developments and future trends in global mining,” said the organisers in a post.
“This premier event gathers the brightest in mining and blockchain from across the globe to discuss the latest innovations and future trends in global digital mining.
We’re eager to meet our beloved peers in the Middle East and engage in meaningful discussions about AI and Blockchain innovations,” added
Greentech Technologies, a provider of hardware for crypto mining farms.
Presenters from Oman include Jad Fredrick Kharma, CEO of Exahertz International, which has invested around $370 million in a major data hosting and crypto mining centre in Salalah Free Zone in Dhofar Governorate.
Moonwalk Systems, a key partner in the project, will be represented by Sam Ferdows, CEO, and Wayne Boshier, CTO.
Youth blockchain enthusiast Faris bin Haitham ai Zadjali, who has been named an ‘Ambassador’ for both BITMAIN and Exahertz, will also share his vision on how crypto education will shape a better future for the world.
The roster of speakers also includes Olivier Ohnheiser, CEO of Green Data City (GDC), which in 2022 received the firstever licence for investment in sustainable crypto-mining in Oman.
Phase 1 of its investment includes 200MW of mining capacity, with a goal to ramp it up to 400MW in the second phase aimed at offering hyperscale data centre capacity with natural cooling, renewable energies and downstream applications.
An overview on Oman’s digital transformation will be presented by Salah al Zakwani, the Chief Investment Officer of Shumookh Investment and Services, at the opening of the Summit.