Green Data City (Muscat) and Phoenix Group (Abu Dhabi) have signed an agreement to develop a 150MW crypto-mining farm in Oman, during a ceremony held at the Ministry of Transport, Communication and IT (MTCIT).

The ceremony was held in the presence of H.E. the Minister, Saeed Al Maawali of MTCIT, and H.E. Hisham Malak, Board Member of Phoenix and Undersecretary of the Department of Finance of Abu Dhabi, in Muscat on the 14th of August 2023.

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 centres in the region.

Phoenix Group is a regional leader in 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 region 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 US$300M farm with modular units to reduce the impact on the land, install solar shades, and employ specialised 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, with 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 ecosystem for crypto infrastructure, with power consumption reduction, renewable electricity, and long-term contracts for miners.