Is UAE the Next Bitcoin Mining Hotspot in the Middle East?
The United Arab Emirates (UAE) is emerging as a leading Bitcoin mining destination in the Middle East
With 30 free trade zones and a growing contribution to the Bitcoin mining hash rate, the UAE is attracting crypto-focused companies
The UAE's mining journey started with a partnership between Marathon Digital and Zero Two, the digital asset arm of Abu Dhabi's sovereign wealth fund.
They established two mining sites with a combined 250-megawatt capacity in Abu Dhabi
Abu Dhabi has become a thriving hub for crypto mining activity in the UAE due to its energy efficiency and status as the country's trade center
While the UAE currently represents around 4% of Bitcoin's global hashrate, its combined mining capacity is estimated to be around 400 megawatts
UAE is a major player in the energy market and has shifted its focus to solar and nuclear energy
By leveraging clean energy sources, the country aims to meet the electricity demands of Bitcoin mining.