Al-Rifai and Alsridi
Global sustainable bitcoin Mining Race debuts in the Middle East
DUBAI, December 7, 2023
Mining Grid, blockchain technology-based startup providing innovative solutions in digital assets, has launched its first ‘Mining Race’, a cutting-edge initiative set to transform the mining landscape in the Middle East and globally.
With headquarters in the UAE, the company is led by Sheikh Saeed bin Hasher Al-Maktoum, Solaiman Al-Rifai and Rami Alsridi.
According to 1Chainalysis, Middle East & North Africa has the sixth-largest crypto economy of any region, estimated at $389.8 billion in on-chain value between July 2022 and June 2023. As the demand for blockchain technology continues to surge in the region, the Mining Race positions itself at the forefront of innovation. According to reports2, UAE, in particular, has seen a remarkable increase in crypto adoption and has been ranked third globally achieving a score of 7 out 10.
The Mining Race offers a user-friendly platform that unites its subscribers (known as racers). Boasting a growing community of 1500 subscribers, it aims to build a community of at least a 1 million users by 2025. Mining Grid will connect the racers by assigning them a position (known as Spot) in the network and redistribute mining rewards based on a pre-programmed structure. Available both on IOS and Google - the interface is streamlined, allowing racers to effortlessly set up an account, book their spot and connect with a bitcoin miner.
Alsridi said: “We pride ourselves on providing enhanced accessibility for individuals keen on Bitcoin mining. The Mining Race app allows users to access mining services such as buying a Bitcoin Miner with Hosting services, monitoring its performance and receiving their mining rewards. Our platform is designed to cater to both experienced miners and those exploring the crypto space for the first time."
Traditional bitcoin mining is reliant on non-renewable energy, posing significant environmental challenges. The Race to Zero Carbon initiative by Mining Grid, positions the mining industry as a key player in shaping a sustainable future. Each racer contributes towards the initiative, showcasing our commitment to supporting projects aligned with our vision for sustainable energy and environmental stewardship.
Al-Rifai added: "Mining Race addresses the evolving needs of the diverse blockchain community in the Middle East. As the region embraces the future of technology, Mining Grid leads the charge with a commitment to innovation, sustainability, and a greener tomorrow."
The company’s cutting-edge initiative is set to democratise asset mining to drive the global adoption of Bitcoin, and uphold a strong commitment to environmental, social, and governance (ESG) values. Its in-house software development capabilities play a pivotal role in supporting both projects and the community.--TradeArabia News Service