Tuesday, 02 January 2024 12:17 GMT

Oman Deploys $1.1B Green Mining Infrastructure to Capture Sustainable Crypto Market Share


(MENAFN- S Factor) While Middle Eastern cryptocurrency markets surge past $338 billion in annual inflows, the Sultanate of Oman is implementing a differentiated strategy focused on sustainable blockchain infrastructure rather than trading volume competition.

Oman has committed over $1.1 billion to renewable energy-powered mining operations, establishing itself as the region's leading ESG-compliant crypto jurisdiction. The investment forms part of a broader $3.2 billion, 15-year infrastructure development program that includes solar-powered data centres, smart-grid integration, and cross-border energy partnerships with UAE and Saudi Arabian entities.

According to blockchain infrastructure provider Mining Grid, Oman's approach targets long-term market positioning over short-term capital flows. The strategy aligns with Oman Vision 2040's economic diversification objectives while addressing growing institutional demand for environmentally responsible crypto operations.

"Oman is implementing a calculated infrastructure-first approach that prioritizes sustainability metrics alongside traditional mining efficiency," said Solaiman AlRifai, Founder and Board Member, Mining Grid. "This positions the Sultanate to capture the emerging ESG-focused segment of institutional crypto investment."

The Sultanate's geographic and economic fundamentals support large-scale mining operations. Abundant solar energy potential, low population density, and strategic connectivity to regional financial centres create optimal conditions for energy-intensive blockchain infrastructure. Additionally, Oman's regulatory stability and government backing provide institutional investors with policy certainty often lacking in emerging crypto markets.

"Oman's value proposition extends beyond current market dynamics," commented Rami Alsridi, Founder and CEO, Mining Grid. "As cryptocurrency markets mature and institutional adoption accelerates, operational sustainability and regulatory clarity become primary competitive advantages. Oman's infrastructure investments position it to benefit from these secular trends."

Regional crypto activity continues expanding, with institutional-sized transfers comprising over 93% of Middle Eastern transaction volume. Stablecoins represent 66% of on-chain activity, while tokenised real-world assets including real estate and sovereign debt instruments attract increasing institutional capital deployment.

Mining Grid, serving over 60,000 global users, views Oman as integral to its regional expansion strategy. The company is developing partnerships within the Sultanate to deploy mobile-optimised, energy-efficient mining solutions that leverage Oman's renewable energy infrastructure.

Market analysts project Oman's infrastructure-first model could establish precedents for emerging market crypto adoption, combining policy support with environmental responsibility. As GCC countries compete for digital finance leadership, Oman's sustainable approach may prove most resilient to regulatory changes and institutional investment criteria.
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Note to the editor: This report uses data from verified analytics platforms, official regulatory sources, and proprietary insights from Mining Grid's user base. Full report: :li:activity:7347892601108193281.

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