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Sunday, January 02, 2022 11:06:23 PM
"Phoenix currently has a mining capacity of 450 MW, but with the new installation in the UAE the mining capacity will immediately go up to 1.1 GW, and once they expand to other jurisdictions in the Middle East, Phoenix will have a mining power of 1.8 GW. Munaf Ali adds, “Once we expand our operations across the MENA region, we will have more than 10 percent of the global hash rate coming from the region. This will shape the region. Today we have interest from Kuwait, Bahrain and Saudi Arabia; this is cutting edge and will be an exciting time for the entire MENA region.” The expansion will be met with an additional order of US $2 billion worth of mining rigs in 2022."
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