GMT is set to build a state-of-the-art data centre in the United Arab Emirates amid the country becoming increasingly crypto-friendly, with several crypto and blockchain projects flocking there every month.
The company is actively evaluating several sites throughout the Emirates as it looks to commence construction of its UAE-based data centre.
“GMT’s expansion is very significant for us; we are looking at making the UAE our global headquarters and bringing our expertise to the UAE via a mining centre of excellence, service and repair facilities, in addition to a blockchain research and development centre,” said GMT CEO, Mark Zalan.
GMT investing in UAE-based DC
GMT will invest heavily in developing its UAE-based data centre (the exact details of the centre’s whereabouts are yet to come). All mining equipment will be stored indoors, with round-the-clock security personnel and CCTV cameras to ensure that no valuable equipment is stolen.
Only the most powerful and modern miners, the Bitmain Antminer S19 Pro (110Th) and Antminer S19 (95Th) will be used in this facility.
A total of 5,000 brand-new miners will be running at GMT’s UAE data centre, with the fleet of miners having a combined power capacity of 20 megawatts (MW), according to a report in Gulf News.
All of the miners will be stored in immersion cooling tanks because this type of cooling is very effective at protecting the equipment from high temperatures, in addition to boosting their computing power (meaning more bitcoins being mined per day).
Another key advantage of immersion cooling is it makes bitcoin mining considerably more profitable, as it slashes energy consumption. For instance, research by Allied Control found that immersion cooling reduces the amount of electricity needed to mine one BTC by approximately 90 per cent.
This type of cooling also makes the miners more reliable because it prevents dust and dirt – which can cause overheating – from getting into the equipment and resulting in downtime.
The report further added that crypto enthusiasts can start mining Bitcoin with GMT by simply purchasing GMT tokens, which are available on several centralised and decentralised exchanges, such as Bittrex, MEXC Global, and UniSwap.
Investors will then automatically start receiving Bitcoin rewards every day. The amount they receive depends on the number of GMT tokens they own, as each token is backed by real computing power that is deployed to mine BTC.
In comparison, traditional Bitcoin mining and other cryptocurrencies involve purchasing an ASIC miner or setting up your own GPU miner. This requires a large upfront investment for equipment, and you’ll also be responsible for maintaining it.
Furthermore, depending on where you live, it is often not profitable to mine Bitcoin this way, due to high electricity prices.