Green Data City & Phoenix unite for $300mn crypto-mining farm in Oman

Green Data City & Phoenix unite for $300mn crypto-mining farm in Oman

Muscat-based Green Data City, and Abu Dhabi-headquartered Phoenix Group have signed an agreement to establish a new crypto-mining farm in Oman worth $300 million.

The new crypto-mining farm in Oman will be set up in the Green Data City and should be fully operational by the second quarter of the year 2024, at a capacity of 150 Megawatts.

Green Data City has already completed the proof-of-concept phase started in November 2022, with five mining companies on-site, four from Oman and one international operator. The facilities employ the most advanced immersion cooling systems to avoid consuming water.

The mission’s objective emphasizes environmental and social responsibility. Developers of the new crypto-mining farm in Oman will build modular units to reduce the impact on land, install solar shades and employ specialized technicians from the local community.

Green Data City operates the first license for sustainable crypto-mining in Oman since 2022. International mining companies can register and operate in Green Data City under long-term agreements.

The first phase of development is set to deliver 200 megawatts of mining capacity. Meanwhile, the second phase is set for a 400-megawatt hyper-scale data center capacity with natural cooling, renewable energy and downstream applications.

Real estate and hospitality investments will join the development of