Oman Launches New Crypto Mining Center In Salalah Free Zone

Illustration of one area in Oman. (photo: dock. pexels)

JAKARTA - Sultanate Oman has launched a new crypto mining center, which is the second mining facility to open in the country's last 10 months.

According to a local report from the Oman Daily Observer, a data hosting and mining center for cryptocurrencies opened in the Salalah Free Zone, which is a special economic zone in the country with low corporate taxes. A local company, Exahertz, will manage this center in collaboration with Dubai-based blockchain technology company Moonwalk Systems.

The center reportedly costs about 135 million rial Oman (approximately IDR 5.2 trillion) for its construction, and will use the latest hardware from Bitmain Technologies, with plans to set up 15,000 mining machines ahead of October 2023.

Currently, the center operates in a trial regime with 2,000 online engines, using a power of 11 megawatts, according to the report.

This mining facility is part of a plan to accelerate the digitization of Oman's economy, which largely relies on oil exports.

Other mining centers opened in November 2022, costing around 150 million rial Oman (Rp 5.8 trillion). In 2022, the electricity price for business operators in this country is 0.064 rials (Rp2500) per kilowatt hour.

On July 27, the Oman government launched a consultation document on the national crypto framework. The framework may require digital asset providers to set up local offices in Oman.

It can also require them to store a small part of the assets in a hot wallet, audit the assets that are secured, and show backup evidence.