- Subscribers can now bid for Dubai telecom operator du’s Cloud Miner to conveniently engage in crypto and Bitcoin mining.
- The company’s latest move aims to boost the adoption of digital assets in the UAE.
- Slots for the new service are limited, and only those successful bidders in du’s online auction from November 3 to 9 can initially avail the feature.
Dubai continues its advance toward reinforcing its position as the top cryptocurrency hub in the world. During the weekend, telecom operator du announced the launch of its Bitcoin (BTC) and crypto mining services.
Du’s New Bitcoin and Crypto Mining Service
The company packaged the new functionalities in its Cloud Miner platform. However, being a mining-as-a-service feature, it sits behind a paywall. The new service is only available to special subscribers across the UAE.
The centralized infrastructure network platform will enable users to bypass the complexities associated with these activities’ hardware management and maintenance. Additionally, it intends to cut their electricity costs.
Cloud Miner’s Availability
Interested customers can join du’s online auction from November 3 to 9 to avail of the new service’s limited slots. If qualified, they can rent computational power from du’s tech data centers across the UAE to power their crypto and Bitcoin mining hardware.
Each contract comes with a 24-month lock-in period. Du didn’t mention the available slots for the Cloud Miner subscription, but assured that it will gradually increase the number of contracts in its next expansion phase.
Du’s Expansion in the Digital Assets Space
Jasim Al Awadi, Chief Information and Communication Technology Officer of du, highlighted in a statement with The National that Cloud Miner is their company’s first step of expansion in the digital asset space. He confirmed that the telecom operator will provide more crypto-related services once “customer adoption becomes higher.”
Al Awadi believes crypto and Bitcoin’s adoption will continue to grow in the coming years, judging by how their momentum has significantly picked up in the last two years when big institutions became more actively involved in the digital assets industry. Moreover, he emphasized that Cloud Miner offers people and institutions confidence in navigating crypto mining with their trustworthy and regulatory-compliant solutions.
Cryptocurrencies Covered
Du and its chief ICT didn’t elaborate on the other cryptocurrencies covered by the program besides Bitcoin. Nonetheless, it will likely include large-cap assets such as Dogecoin (DOGE), Litecoin (LTC), Dash (DASH), Monero (XMR), Ethereum Classic (ETC), and Zcash (ZEC).
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