Bitcoin Mining Around the World: Oman

Hashrate Index's Jaran Mellerud produced an analysis of Bitcoin mining industry in Oman - potentially biggest bitcoin mining hub in the Middle East.

Bitcoin Mining Around the World: Oman
  • "With its energy surplus and desire to diversify and modernize its economy, Oman is now moving heavily into bitcoin mining. Two mega projects - Exahertz and Green Data City - are currently under development and could turn Oman into the biggest bitcoin mining nation in the region."
  • "Exahertz and Green Data City plan to build out a combined 1.2 GW, which could generate 55 EH/s. This could eventually give Oman a 7% network share."
  • "Oman's electricity system consists of two separate electricity grids named "Dhofar" and "Main Interconnected System." Both Exahertz’s and Green Data City’s pilot projects are located in Dhofar, while Exahertz has two sites under development in the Main Interconnected System area."
  • "Exahertz has a partnership with Bitmain and utilizes hydro-cooled Bitmain containers equipped with the S19 Pro+ Hydro at its Salalah pilot site."
"The Omani government has adopted a fuel diversification policy with a target of generating 30% of the electricity from renewable sources by 2030. The only way to achieve this optimistic goal is by initiating massive development of Oman’s excellent solar resources."
  • "Due to a continuous buildout of natural gas and solar, Oman's total generating capacity is expected to grow by 8.7% annually until 2027. There will be more than enough electricity for the country's bitcoin miners."
  • "The heavy buildout of new generation capacity will lead Oman's already electricity surplus to increase drastically. Bitcoin miners will be needed to monetize this otherwise unutilized electricity generation capacity."
  • "One of the biggest advantages of mining bitcoin in Oman is the solid government support. Licensed miners get access to special, competitive electricity tariffs. In addition, they can avoid most taxes, including corporate tax, VAT, and import duties."
  • "Scorching desert heat makes bitcoin mining a massive challenge in other Middle Eastern countries like the United Arab Emirates, Qatar, and Kuwait. Luckily, miners can come to cool down in Oman - the bitcoin mining oasis of the Middle East."
  • "Oman will become an increasingly important bitcoin mining country over the next few years. It could, together with its neighbors, take the Middle East’s total share of the Bitcoin mining network above 15%. That is my projection for two years from now," said Jaran Mellerud.

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