SK Hynix Targets $29.4 Billion Nasdaq Listing to Expand AI Chip Business 
U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
Singapore Inflation Stays Muted in May as Core CPI Misses Forecasts Ahead of MAS Review 
New Zealand Fast-Tracks Gold Mining as Industry Revival Gains Momentum 
Anthropic AI Model Uncovers Vulnerabilities in Classified U.S. Government Systems During Security Test 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
Meta Reportedly Developing ‘Arena’ Prediction Market App to Rival Polymarket and Kalshi 
Meta Pauses Employee Activity Tracking Program Over Data Security Concerns 
Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
South Korea Stocks Tumble as AI-Fueled Rally Faces Profit-Taking Pressure 
BTC Slips Below $60K as Institutional Demand Dries Up — Bears Eye $59K Support, Rallies to $63K for Shorts 
Oil Prices Slip as Iran Sanctions Relief and Hormuz Shipping Recovery Ease Supply Concerns 
Japan Manufacturing Growth Accelerates in June as Orders Surge Despite Iran War Cost Pressures 
KPMG Australia Chairman and Senior Partners Exit Amid Escalating Whistleblower Scandal 
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
