So much exciting news is coming out of the region as of late, however, as someone who lived a big chunk of my life in Oman, news about it always hits differently.
For those of you who may have not heard of Oman…
It’s a country hardly anybody knows about. I know this from getting asked where I live and when I answer, ‘Oman’, I usually have to follow up with further explanation. From my experience, it works when you say ‘Near Dubai’. That seems to cut it everytime. I always found it very interesting how the middle east is one of the most reported regions on the news, yet most people, especially in the west, know nothing about it.
Oman though, is a true gem. There is such a beauty and essence about the place that makes it so unforgettable for a first time visitor. A quick google search will land you on pages where you can read about the country. I encourage you to do this, you can thank me later.
Moving on to the part about mining…
A Muscat (OM) based company has signed an agreement with a Abu Dhabi (UAE) based company to develop a massive crypto-mining farm in Oman. The farm will be installed in the Southern part of the country: Dhofar, where the weather is cooler than in other areas, therefore making the facility more sustainable for mining. By the way, if you plan to visit Oman, you are really lucky if you get to visit Dhofar in the rainfall season running from July to late August. If you are googling images right now, yes the scenery is real and is even more beautiful in person. Another UAE based company, made their second investment in a huge project in Salalah Free Zone, Oman. The project is valued at $370M, and their first was inaugurated back in November of 2022.
The best part is that the government of Oman is an active player in all of this. They seem to see cryptocurrency as an investment opportunity and a move towards advancing their digital economy. Meanwhile, we have governments around the world doing the exact opposite, viewing it as a ‘threat’ and looking for ways to restrict or totally ban cryptocurrency. What a breath of fresh air to see a middle eastern Country in the gulf embrace this.
This transformation will be life-changing for Omani youth seeking opportunities in their homeland. I also expect Oman to steal some of the light from Dubai in the coming years. Can you imagine all those Dubai crypto-millionaires discovering Oman and next thing you know they are relocating to Oman and buying luxurious property in places like ‘Sifa’ and ‘Muscat Bay’, abandoning the concrete jungle.
