Du becomes UAE’s first telecom to enter crypto mining

du, one of UAE’s telecom and digital services provider, has launched its Cloud Miner service offering UAE residents the opportunity to mine crypto by renting computational power on a subscription basis using its existing data centers across the country.

The cloud mining-as-a-service (MaaS) offering, called “Cloud Miner”, an ICT infrastructure, aims to pioneer sustainable crypto innovation. “Cloud Miner” is designed exclusively for UAE residents in line with du’s commitment to transparency, security, and regulatory compliance.

Customers can bid through an online auction that will be hosted on the Online Auction website, starting from the 3rd to the 9th of November.

As per du, the cloud-as-a-mining service will offer a cloud-based solution that simplifies traditional processes. Clients will be able to mine, benefit from potential Bitcoin rewards, and participate in the blockchain ecosystem without the burdens of hardware management, electricity costs, or maintenance concerns, and operations can commence immediately after subscription.

Jasim AlAwadi, CICTO at du, noted that the telecom operator aims to offer an easy entry point into the world of cryptocurrency while leveraging du’s reputation, reliability, transparency, and security.

He explained, “The service embodies our commitment to innovation, leveraging our robust data center skills & ICT infrastructure to secure a sustainable future for digital finance in the UAE.”

The telecom operator distinguishes its Cloud Miner with competitive pricing and a transparent, no-hidden-fee contract available for 24 months, allowing clients to conveniently enjoy 250 TH/s capacity, where subscribers can access crypto mining through a straightforward web application.

Furthermore, du ensures adherence to KYC/AML compliance for high-value transactions with the use of UAE Pass and by bolstering account security with two-factor authentication, demonstrating its commitment to providing a secure and trustworthy service.

“The launch of Cloud Miner under sub-brand du Tech highlights du’s rich heritage in telecom. With du’s Cloud Miner, entering the cryptocurrency market has never been easier or more secure,” added Jasim AlAwadi at du.

Bitcoin mining is spearheaded by corporates in the UAE

There is already strong corporate mining activity in the UAE, with entities such as UAE Phoenix Group, which launched its IPO last year, and Marathon Digital, which in 2023 partnered with Zero Two, a subsidiary of the UAE sovereign wealth fund, for a Bitcoin mining facility in Abu Dhabi.

However, this is the first time a telecom entity offers such a service in the UAE. Globally, for example, Deutsche Telekom subsidiary MMS, in collaboration with Bankhaus Metzler, is launching a pilot project to operate a Bitcoin mining infrastructure using surplus energy.

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