| Work Detail |
The new farm will be installed in Green Data City
MUSCAT: Reinforcing Oman’s appeal as a destination for data center and cryptocurrency mining services, Muscat-based Green Data City and Abu Dhabi-headquartered Phoenix Group have signed an agreement to develop a 150MW crypto-mining farm in Oman.
The agreement was formalised at a ceremony held recently in the presence of Eng Said al Maawali, Minister of Transport, Communications and Information Technology, and Hisham Malak, Board Member of Phoenix and Under-Secretary of the Department of Finance of Abu Dhabi.
The new farm will be installed in Green Data City and should be fully operational by Q2 2024, becoming one of the largest crypto-mining data centers in the region. Phoenix Group is a regional leader of mining equipment backed by MicroBT, with strong expertise in mining operations in the Middle-East.
The signatories of the agreement have chosen the Sultanate of Oman due to the long-term security provided by the Green Data City mining license, the common vision to develop cryptocurrencies mining and AI applications with the Ministry of Transport, Communication and IT, and the cooler weather in Oman, in particular in the Governorate of Dhofar, which reduces the cooling energy consumption to a minimum, making Oman one the most sustainable destination for mining in the region.
Environmental and social responsibility being at the top of the mission statement, the developers will build the $300 million farm with modular units to reduce the impact on the land, install solar shades, and employ specialized technicians from the local community. Younger students and graduates will be able to get acquainted with the mining operations through a partnership with universities in Oman, in a long-term vision to strengthen the country’s capabilities on cryptocurrencies, next generation finance, and IT innovation.
GDC has already completed the proof-of-concept phase started in November 2022, with 4 mining companies on site (four miners from Oman and one international), and with the most advanced immersion cooling systems to avoid consuming water. Green Data City will continue to allocate mining capacities, under the leadership of the MTCIT, and to provide a stable eco-system for crypto infrastructure, with power consumption reduction, renewable electricity, and long-term contracts for miners.
Green Data City LLC operates the first license for sustainable crypto-mining in Oman since 2022. International mining companies can register and operate in Green Data City with long term agreements. The first phase of development consists of 200MW of mining capacity, the second phase will reach 400MW hyperscale data center capacity with natural cooling, renewable energies and downstream applications. Real estate and hospitality investments will join the development of the new eco-system, and create the next generation data & blockchain eco-system in the region.
Founded in 2016, the Phoenix Group manages 725MW across global mining facilities, with a presence spanning Canada, North America, CIS, and the UAE. With a strong international presence, the Group operates diverse locations and employs over 177 professionals from 16 different nationalities. Services provided encompass mining, hosting, and cooling, alongside investments in web3 technologies and regulated digital asset exchanges. It has recently added systematic trading to its diverse portfolio of businesses. |
