Kyrgyzstan paid millions for a crypto mine near the Naryn river to be fueled by a hydropower station.

Doubling Down

According to local media, Oman has opened a second cryptocurrency mining center worth roughly $390 million following the one disclosed in November 2022. The $740 million investment may strengthen the local digital economy, create many jobs, and make Oman a worldwide data hosting and mining centre.

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The facilities are owned by Exahertz International. CEO Sam Fedows said a trial blockchain-based center in the Salalah Free Zone may lead to a larger network in Oman.

The project involves almost 2,000 computers and is live. By October, 15,000 devices will increase capacity, and the experiment might include Al Jabal Al Akhdar and Al Dakhiliyah Governorate.

Fedows said the crypto mining facilities will employ local power and staff to enhance Oman's economy. He said the facilities employ Bitmain Technologies equipment.

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The executive believed that the project will boost Oman's economy. He called blockchain technology “the future.”

Kyrgyzstan’s Work

Kyrgyzstan, in central Asia, invested $20 million to build a crypto mining plant. It may utilise extra electricity from the Kambar-Ata-2 Hydro Power Plant because it will be nearby.

The latter produces more power than needed at times of the year, which might reduce waste. President Sadyr Japarov approved the project:

We have ample summer electricity. It surpasses. No sales anywhere. We allow facilities that can handle the load to benefit the energy system.”

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The political leader said the crypto mine may suspend operations in winter when the power plant is less productive. Building the facility should finish in Q2 2024.