Link copied 
Oman, a Gulf nation, is rapidly advancing its digital transformation efforts with the inauguration of a state-of-the-art cryptocurrency mining center in the Salalah Free Zone. This marks the second cryptocurrency mining facility to be established in Oman within a year, highlighting the country's proactive approach towards integrating digital technologies.
Located in the Salalah Free Zone, known for its favorable corporate tax rates, this advanced data and cryptocurrency mining center is a collaboration between Oman's Exahertz and the Dubai-based blockchain firm, Moonwalk Systems.
Financial records reveal that the construction of the center required an investment of approximately 135 million Omani rials, equivalent to $350 million. The facility is equipped with the latest cutting-edge machines provided by Bitmain Technologies. While the objective is to have 15,000 machines operational by October of this year, the center has commenced its initial phase, currently utilizing 2,000 machines powered by 11 megawatts.
Oman's foray into the cryptocurrency realm aligns with its broader economic diversification goals, aimed at reducing dependency on traditional oil exports. As evidence of this strategy, another mining center was launched in November 2022, with a slightly higher investment of 150 million Omani rials, equivalent to $389 million. Importantly, in the previous year, business operators benefited from competitive electricity rates of 0.064 rials, or $0.166 per kilowatt hour.
Further bolstering its digital efforts, Oman's government proposed a comprehensive national cryptocurrency framework on July 27. The proposed guidelines suggest certain prerequisites for digital asset providers, which might include establishing local offices within Oman. Additional stipulations could involve maintaining a minimal percentage of assets in easily accessible hot wallets, as well as mandatory regular asset audits and verified proof of reserves.
