Exahertz Backs Oman's Ambitious Move to Cement Itself as a Blockchain Hub in the Middle East
ŞALĀLAH, Oman, August 15, 2023 (Newswire.com) - Exahertz, a Muscat-based start-up, has made significant strides in Oman's blockchain industry as it secures government approval for its massive blockchain data center project in Salalah. With the backing of Axeron Capital Holding Ltd, Moonwalk Systems FZCO, and Shumookh Investment and Services, Exahertz aims to establish Oman as a leading blockchain hub in the Middle East, alongside its neighboring countries.
The Ministry of Transport, Communications, and Information Technology, along with the Authority for Public Services Regulations (APSR), are providing support for this ambitious venture, highlighting Oman's commitment to infrastructure development and job creation across various sectors. The government is actively working with Exahertz and other stakeholders to attract foreign investments and leverage submarine cables to propel Oman's digital economy.
H.E Eng. Saeed Bin Hamoud Al Mawali, Minister of Transport, Communications and Information Technology said that the "Ministry of Transport, Communications and Information Technology seeks to build cooperative partnerships with leading local and international private sector entities in the various types of digital technologies, as the Ministry works to attract foreign investments in this ever-developing industry." Moreover, he added that "this effort will fulfil our expectations and goals for bolstering the Sultanate of Oman's Digital economy and making full use of submarine cables that connect the Sultanate of Oman to the rest of the continents digitally."
"Through our project, we aspire to shape the future of software-defined data centers, paving the way for flexible applications that seamlessly adapt to the ever-evolving computing landscape," emphasized Jad Fredrick Kharma, the Founder of Axeron and CEO of Exahertz. "It is with great conviction that I underscore the immense significance of Blockchain computing as the bedrock of the digital economy. This technology empowers us to make further investments in web 3.0, Industry 4.0, and AI infrastructure, propelling us into a new era of innovation and growth."
Jad Fredrick Kharma further expressed his pride in Exahertz's collaboration with industry leaders and visionaries, stating, "At Exahertz, we take immense pride in partnering with esteemed individuals who share our vision, as we collectively design the next generation of software and hardware solutions. These advancements will play a pivotal role in supporting Oman's future growth and solidifying its position as a tech-forward nation."
Reflecting on the interconnected nature of Blockchain and hyperscale data centers, Jad Fredrick Kharma added, "Blockchain, hyperscale and energy are becoming synonymous. Building an adequate and efficient infrastructure is the key to unlocking success in this convergence. We must prioritize the establishment of a robust framework that harmoniously integrates these elements to drive unparalleled progress."
H.E Sheikh Mansour Bin Taleb Bin Ali Al Hinai, Chairman of Oman's Authority for Public Services Regulations, expressed excitement about the commencement of such projects in the Sultanate. Al Hinai emphasized the authority's commitment to modernizing Oman's business diversification and technology industry, showcasing their support for Exahertz and its contribution to future capabilities.
Exahertz plans to expand rapidly by investing substantial capital and debt to build a cutting-edge infrastructure sourced from national factories. Their strategic partnerships and focus on hydro and immersion cooling mining technologies will help control power costs and ensure operational efficiency. Notably, Exahertz has garnered support from key industry players, positioning itself as one of the leading Bitcoin mining firms in the region. Renowned blockchain heavyweight Bitmain is collaborating with Exahertz to operate and supply mining equipment.
Despite recent fluctuations in Bitcoin prices, Exahertz and Moonwalk Systems are delighted to announce the successful operation of their testing facility in SFZ since March 2023. The facility has provided valuable data and insights that have played a pivotal role in shaping the understanding of challenges and solutions in the blockchain space and the harsh conditions of the region. This achievement has reaffirmed and confirmed Exahertz's ambitious goal of deploying additional 50,000 operational devices and servers across the Sultanate by mid to end 2024, equating to approximately 10 Exahash in computing capabilities across various types of technologies and cooling solutions.
District Cooling provider Tabreed-Oman has taken on the critical task of providing sustainable cooling solutions for the data center, ensuring energy-efficient operations. Mr. Abdullah Hiani, CEO of Tabreed Oman, expresses enthusiasm for their role in sustainable cooling infrastructure and the adoption of advanced technologies in the industry.
Sam Ferdows serves as the CEO of Moonwalk Systems, a prominent strategic partner and primary supporter of Exahertz. highlights their commitment to creating state-of-the-art blockchain data centers using the latest cutting-edge technology. He states, "We are focused on making our sites in Oman the benchmark for blockchain data centers in the Middle East with enhanced and sustainable solutions." With a strong emphasis on operational efficiency and boosting computational power, Moonwalk Systems aims to optimize performance and contribute to the advancement of blockchain technology. Ferdows adds, "We are determined to drive innovation in the industry and make a lasting impact in the Middle East's blockchain ecosystem."
Sam added, "Earlier this year, we embarked on our journey with our pilot project, 'Area 51,' in Salalah. In just three weeks, we managed to develop and bring our first computers online. This accomplishment sets an industry world record for speed of development without compromising on quality and standards. I'm immensely proud of the Moonwalk and Exahertz team for this achievement, but believe me, we are just getting started."
Dr. Ali Tabook, CEO of Salalah Free Zone, wholeheartedly supports Exahertz as an early believer in their project and vision, recognizing the positive impact it will bring to various sectors in Salalah, and the sultanate leadership vision 2040 goals. He states, "Blockchain data centers have the potential to drive economic growth, attract foreign investments, create high-value jobs, enhance data security, and establish Salalah not only as a Tourist destination but also as a regional technology hub." This support reflects Salalah Free Zone's commitment to fostering sustainable development and ensuring long-term prosperity for the city of Salalah, and the governate of Dhofar.
The establishment of these groundbreaking data centers and facilities will enable monumental scientific achievements across disciplines. Oman's robust infrastructure, advanced analytics capabilities, and data-driven research will fuel groundbreaking discoveries, drive innovation, and foster transformative collaborations.
With government support and the involvement of industry leaders, Exahertz is poised to solidify Oman's position as a significant player in the global blockchain industry, reinforcing its ambition to become a prominent blockchain hub in the Middle East.
"Blockchain technology and crypto mining offer significant potential for economic growth in our country. By embracing blockchain, we can create a more efficient and secure infrastructure for transactions and data management, while crypto mining can attract investments, generate employment opportunities, and contribute to the development of a thriving digital economy." - Salah Al Zakwani (Shumookh Investment and Services)
More information:
www.exahertz.om
www.moonwalk.systems
Source: Exahertz