GettyImages 1239847346 Gulf region's love for crypto mining is growing, but can it be green?

Gulf region’s love for crypto mining is growing, but can it be green?

crypto mining is an electricity-intensive process that requires running computer servers to solve a complex set of algorithms.

-in other words, mining crypto converts electricity into digital coins then sold at market value.

-for that reason, access to cheap power is a trump card.

-The energy-rich Gulf region is a suitable candidate for crypto mining due to its abundance of cheap power.

-after a decade of hesitation, Gulf States have started to warm up to cryptocurrencies.

-The United Arab Emirates (UAE) and Bahrain, in particular, are looking to attract centralized crypto exchanges.

-Simultaneously, Gulf States have warmed up to renewables, solar in particular, opening The doors for solar-powered crypto mining.

 

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