As Bitcoin mining evolves, the GCC region is emerging as a key player in this transformative shift, thanks to a growing focus on renewable energy and cutting-edge technology. Abdumalik Mirakhmedov, Executive President of GDA, one of the largest Bitcoin mining companies globally, highlights the region’s pivotal role in this change.
“Governments across the GCC are showing strong support for Bitcoin mining, recognizing its potential to drive broader sector development,” says Mirakhmedov from GDA’s Dubai office. “Their commitment to green energy could propel the region to the forefront of sustainable mining, potentially securing a significant share of the network’s hash rate.”
Currently, the UAE’s Bitcoin mining represents about 4% of the global hash rate, with Oman investing over $800 million in crypto-mining operations. This robust investment reflects a regional commitment to integrating renewable energy sources like hydroelectric, wind, and captured methane gas into mining practices.
Mirakhmedov notes, “The misconception that Bitcoin mining heavily relies on fossil fuels is outdated. More than 55% of global Bitcoin mining operations now use renewable energy. This shift is driven by declining renewable energy costs, making them the preferred choice for miners.”
Advanced cooling technologies, such as liquid and immersion systems, are also set to revolutionize mining operations. These innovations promise to enhance energy efficiency and reduce costs, further supporting sustainable practices.
Mirakhmedov points out, “In Sweden, excess heat from mining rigs is used to warm greenhouses and de-ice vehicles, turning waste into a valuable resource. This kind of ingenuity could secure Bitcoin mining’s future, with the GCC region poised to play a significant role.”
GDA operates 20 data centers across North America, South America, Europe, and Central Asia, positioning itself at the forefront of the industry’s green energy transition.
