Green Data City and Phoenix Group Collaborate on $300 Million Crypto-Mining Farm in Oman

In a move that solidifies Oman’s standing as an attractive destination for data center and cryptocurrency mining services, Green Data City based in Muscat, and Phoenix Group headquartered in Abu Dhabi has entered into a partnership to establish a state-of-the-art crypto-mining farm with a capacity of 150MW in Oman.

The formal agreement was signed during a recent ceremony attended by notable figures including Eng Said al Maawali, the Minister of Transport, Communications and Information Technology, and Hisham Malak, a Board Member of Phoenix Group and Under-Secretary of the Department of Finance of Abu Dhabi.

The ambitious project is set to be housed within Green Data City’s premises and is projected to be fully operational by the second quarter of 2024. Once active, the crypto-mining farm will rank among the largest data centers dedicated to crypto-mining in the region. Phoenix Group, backed by MicroBT and boasting substantial expertise in mining operations across the Middle East, will spearhead this venture.

The decision to establish the crypto-mining farm in Oman was influenced by several factors, including the secure long-term environment guaranteed by the Green Data City mining license. Additionally, the common aspiration to advance cryptocurrency mining and artificial intelligence applications in collaboration with the Ministry of Transport, Communication, and IT played a pivotal role. The climatic advantage of Oman, particularly in the Governorate of Dhofar, with its cooler temperatures, has also been leveraged to minimize cooling energy consumption, making Oman a remarkably sustainable destination for mining activities in the region.

With a strong commitment to environmental and social responsibility, the developers plan to construct the $300 million farm using modular units to minimize land impact, incorporating solar shades and employing specialized technicians from the local community. The project also aligns with educational goals, as partnerships with universities in Oman will allow students and graduates to gain firsthand experience with mining operations. This long-term vision aims to bolster the nation’s expertise in cryptocurrencies, next-generation finance, and IT innovation.

Having successfully completed the proof-of-concept phase initiated in November 2022, Green Data City welcomed four mining companies (including both local and international miners) on-site, equipped with advanced immersion cooling systems to conserve water resources. Continuing under the guidance of the MTCIT (Ministry of Transport, Communication, and Information Technology), Green Data City will allocate mining capacities, foster a stable crypto infrastructure ecosystem, and focus on power consumption reduction, renewable electricity utilization, and durable contracts for miners.

Green Data City LLC holds the distinction of operating Oman’s inaugural sustainable crypto-mining license since 2022. The facility provides international mining companies with the opportunity to register and operate within its premises through long-term agreements. The development’s first phase encompasses a 200MW mining capacity, with the subsequent phase targeting a 400MW hyperscale data center capacity, incorporating natural cooling methods, renewable energy sources, and downstream applications. This ambitious initiative also extends to real estate and hospitality investments, poised to create a pioneering data and blockchain ecosystem within the region.

Founded in 2016, Phoenix Group is a significant player in the field, managing 725MW across global mining facilities with a presence spanning Canada, North America, CIS, and the UAE. The group’s international scope is underscored by its diverse locations and a workforce of over 177 professionals representing 16 nationalities. Services offered include mining, hosting, and cooling, alongside investments in web3 technologies and regulated digital asset exchanges. Systematic trading has recently been incorporated into its diverse portfolio of operations, solidifying Phoenix Group’s dynamic presence in the industry.

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