UAE emerges as a pro-Bitcoin mining destination in the Middle East
The United Arab Emirates’ combined Bitcoin mining capacity is estimated to be around 400 megawatts or 4% of Bitcon’s global hash rate. The United Arab Emirates (UAE) is gradually solidifying its status as a go-to Bitcoin (BTC) mining destination in the Middle East. The country has established itself as a pro-Web3 destination for crypto-focused companies with over 30 free trade zones and a growing contribution to the Bitcoin mining hash rate. The UAE’s mining journey began with Bitcoin miner Marathon Digital partnering with Zero Two — the digital asset arm of Abu Dhabi’s sovereign wealth fund — in May. The joint venture established two mining sites with a combined 250-megawatt (MW) capacity in Abu Dhabi. Abu Dhabi has become a hub for all kinds of crypto mining activity in the UAE due to its energy efficiency and status as the center of trade in the country. According to data from Hashrate Index, UAE’s combined Bitcoin mining capacity is likely around 400 MW — or 4% of Bitcon’s...