Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
SK Hynix Considers U.S. ADR Listing to Boost Shareholder Value Amid Rising AI Chip Demand 
Fortescue Expands Copper Portfolio With Full Takeover of Alta Copper 
China’s Small Bank Consolidation Struggles as Profits Fall and Risks Persist 
Coca-Cola’s Proposed Sale of Costa Coffee Faces Uncertainty Amid Price Dispute 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Rio Tinto Signs Interim Agreement With Yinhawangka Aboriginal Group Over Pilbara Mining Operations 
Nvidia Weighs Expanding H200 AI Chip Production as China Demand Surges 
iRobot Files for Chapter 11 Bankruptcy Amid Rising Competition and Tariff Pressures 
Strategy Retains Nasdaq 100 Spot Amid Growing Scrutiny of Bitcoin Treasury Model 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
BTC Bulls Defend $90,000 – One Fed Spark Away from $100K Explosion 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Oman's Ministry of Transport, Communications, and Information Technology (MTCIT) recently inaugurated a $350 million data hosting and cryptocurrency mining center in Salalah Free Zone, marking its second significant investment in the sector, solidifying Oman's standing in the global digital arena.
Collectively, these investments amount to a staggering $740 million, poised to fuel Oman's digital economy, generate employment opportunities, and establish the country as a global hub for data hosting and mining.
Exahertz International, the company responsible for setting up the facility, has expressed the potential expansion of a blockchain-based network of centers throughout Oman, starting with a pilot project in the Salalah Free Zone. CEO Sam Fedows believes that harnessing local infrastructure, including electricity and personnel, will benefit Oman's economy and bolster the case for blockchain technology.
Currently operational, the mining center houses over 2,000 machines, with plans to add 15,000 devices by October. The trial phase may extend to other regions, such as Al Jabal Al Akhdar and Al Dakhiliyah Governorate, further enhancing the facility's capacity. To power their operations, the company relies on cutting-edge machines provided by Bitmain Technologies, a renowned Chinese manufacturer within the crypto mining industry.
In parallel, Kyrgyzstan, a country situated in central Asia, has also made strides within the crypto-mining sector. With an investment of $20 million, they are constructing their cryptocurrency mining facility near the Kambar-Ata-2 Hydro Power Plant. The excess energy generated by the power station during certain periods of the year will be harnessed to facilitate the mining operations and prevent wastage.
President Sadyr Japarov of Kyrgyzstan affirmed the surplus electricity available during summer days, noting the necessity to capitalize on this excess energy. By leveraging the site's capacity, they aim to contribute to the energy system while advancing their presence in the crypto-mining industry.
Establishing these mining centers in Oman and Kyrgyzstan signals a significant progression in both countries' pursuit of economic growth. With these initiatives, they aim to tap into the potential of blockchain technology and secure their positions in the promising future it promises.
Photo: Dmitry Demidko/Unsplash
