Coinspeaker
Oman Makes Big Investments in Bitcoin Mining Operations, But Is It Sharia Compliant?
This month in August, the Sultanate of Oman announced some multi-million investments in its crypto mining operations in its recent attempt to embrace digital assets. Reportedly, Oman is pursuing a strategy to make it a digital hub in an increasingly competitive region.
In August, the Omani government unveiled new investments worth approximately $800 million in cryptocurrency mining. On August 23, Oman disclosed a partnership of $300 million with Abu Dhabi’s Phoenix Group to establish a 150-megawatt crypto-mining facility in collaboration with Green Data City—a licensed crypto-mining entity in Oman.
This facility will become operational in the upcoming year. Prior to this, the capital city Muscat gave the green light to a $370 million project managed by Exahertz International, which intends to deploy an additional 15,000 mining machines by October, as reported by local news sources.
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