Dubai witnessed the launch of the Mining Race conference for blockchain and Bitcoin mining solutions, with the attendance of prominent experts, specialists and decision-makers in discussion sessions to explore the latest ideas and trends in the digital currency sector, decentralized finance (DeFi), market trends, regulatory developments, and the expanding role of the Middle East region in the global cryptocurrency and blockchain scene, as the UAE witnessed a significant increase in its share of Bitcoin mining operations in the world, by 4% during this year, up from 3.7% in the previous year, and the size of the global Bitcoin mining market is expected to reach $2.8 billion by 2028, and this growth is due to the increase in institutional investments, progress in mining technology, and favorable regulatory environments in major markets.
The Middle East is emerging as one of the most important players in the cryptocurrency space today, thanks to forward-thinking policies and rapid developments in the sector. Recent studies indicate a significant increase in cryptocurrency adoption, with the global market expected to grow by 15% over the next five years. Key markets such as the UAE and Saudi Arabia are now global leaders in blockchain technology, supported by supportive regulations and strategic investments.
âThe official launch of Mining Rcae in the Middle East reflects the regionâs growing importance in the global blockchain and cryptocurrency sector,â said Sulaiman Al Rifai, Founder and Board Member of Mining Grid, the eventâs organizer in Dubai. âFollowing the success of Mining Rcae last year, we are excited to support the efforts of the blockchain and Bitcoin mining community by fostering meaningful connections between innovators, investors and regulators. This event is a crucial step towards creating a more inclusive and thriving cryptocurrency ecosystem.â
âWe are proud to support and sponsor Mining Gridâs first crypto and blockchain event and be part of their journey. We believe in fostering strong networks and building vibrant communities of innovation, and this event is a great opportunity to bring together innovators, investors and thought leaders to shape the future of the blockchain sector in the region,â said Ali Abu Zinjal, Founder and CEO of Iconix.
âOur mission is to revolutionize the Bitcoin mining industry by creating the environment for the development and production of secure, innovative solutions and community-led platforms,â said Rami Al-Suraidi, Founder and CEO of Mining Grid.
The event is designed to foster engagement and knowledge exchange among institutional investors, technology innovators, crypto startups and individual traders, contributing to the continued growth of a vibrant and active blockchain community in the region.
