Bitcoin halving ‘can help mining companies flourish’ - Middle East News 247
July 14, 2024

Bitcoin halving ‘can help mining companies flourish’

GDA, one of the world’s leading bitcoin mining companies in terms of hash rate, believes the latest bitcoin halving event can allow the industry’s leading players to flourish, as the GCC region emerges as a new area for growth.

Abdumalik Mirakhmedov, Founder and Executive President of GDA, will be a keynote speaker at the World Blockchain Summit in Dubai on Tuesday, when he discusses challenges faced by the bitcoin mining industry in navigating through the 4th bitcoin halving event.

“Mining companies have had to prepare well for the halving event, and approach it with a high level of operational efficiency,” said Mirakhmedov. “But we believe that halving fosters competition and innovation. Well-prepared companies will not only cope, but also flourish after the halving, effectively expanding their operations.”

GDA currently operates 20 data centres across North America, Europe, and Central Asia. The company, which has a total power capacity of over 500 MW, has brought over 150,000 miners online, and believes strong government support, and a focus on green energy, makes the GCC region attractive for bitcoin mining expansion.

“GDA is a vertically integrated company with data centres distributed all over the globe,” said Mirakhmedov. “We are always looking for good locations for our data centres, and believe that the GCC countries have enormous potential for the development of the bitcoin mining sector.

Last Updated on 3 months by Middle East News 247

    Middle East News 247

    Middle East News 247 delivers trending business and lifestyle news and essential infotainment for, and from the Middle East region, with key focus on the GCC nations: United Arab Emirates (UAE), Saudi Arabia, Qatar, Bahrain, Kuwait, and Oman.
    Follow Me:

    Related Posts