logo
Bitcoin.com sets up regional HQ in Dubai's DMCC

Bitcoin.com sets up regional HQ in Dubai's DMCC

Zawya6 hours ago

Cryptocurrency services company, Bitcoin.com, has set up its regional headquarters in Dubai's DMCC as it plans to build partnerships across the region.
The new base will be in DMCC's Crypto Centre, which is home to over 650 companies operating across the blockchain and digital asset value chain.
Dubai has emerged as a hub for the crypto industry as it advances its ambitions to become a global tech hub. The emirates launched the Virtual Assets Regulatory Authority (VARA), the first independent regulator dedicated to virtual assets in the world.
(Writing by Brinda Darasha; editing by Seban Scaria)

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

UAE played ‘significant role' in reducing tension between India and Pakistan, says Sharif
UAE played ‘significant role' in reducing tension between India and Pakistan, says Sharif

Khaleej Times

timean hour ago

  • Khaleej Times

UAE played ‘significant role' in reducing tension between India and Pakistan, says Sharif

The UAE played a significant role in reducing tensions between Pakistan and India during the recent military conflict, said Pakistan's Prime Minister Muhammad Shehbaz Sharif. The prime minister's remarks were made during a meeting with Abdulla Nasser Lootah, UAE's Deputy Minister of Cabinet Affairs for Competitiveness and Knowledge Exchange, and Hamad Obaid Al Zaabi, UAE Ambassador in Pakistan, in Islamabad on Monday. The two South Asian neighbours engaged in a military conflict after India accused Pakistan of involvement in the Pahalgam attack, which Islamabad denies. Sharif recently visited the UAE and met President Sheikh Mohamed bin Zayed Al Nahyan, describing the meeting as 'very fruitful' and saying the UAE played a 'significant role in reducing tensions between Pakistan and India.' In addition to the UAE, Saudi Arabia and the US also played a key role in reducing tension between the two nuclear nations. During the meeting, Shehbaz Sharif said the UAE has positioned itself among the developed countries with its modern management system, and Pakistan was keen to benefit from its experiences. The prime minister underlined that Pakistan wanted to benefit from the experiences of the UAE to achieve good governance so that these steps could be made more effective to improve data-based decision-making. He added that Pakistan has taken steps such as digitisation and a paperless economy to improve its administrative structure. In addition, a faceless customs system has also been implemented. Sharif and Abdulla Naseer also attended the signing ceremony of a Memorandum of Understanding (MoU) to cooperate in improving government performance by exchanging knowledge and mutual experience, guidance and development models in relevant fields. The MoU covers cooperation in areas such as good governance, development planning, public sector reforms, human resource development, urban planning, and science and technology, among others.

Bitcoin mining difficulty falls slightly from recent all-time high
Bitcoin mining difficulty falls slightly from recent all-time high

Crypto Insight

timean hour ago

  • Crypto Insight

Bitcoin mining difficulty falls slightly from recent all-time high

Bitcoin's mining difficulty fell slightly on Saturday after hitting an all-time high of 126.9 trillion on May 31 at the start of the previous difficulty adjustment period. The Bitcoin mining difficulty level currently stands at roughly 126.4 trillion, according to data from CryptoQuant. Higher mining difficulty and network hashrate, which is a separate but related measure of the total computing power securing the Bitcoin protocol, both translate into increased miner competition and higher production costs. Miners continue to face financial pressures from the reduced block reward following the April 2024 halving, rising operational costs, and increased mining difficulty, which have changed the calculus for mining companies struggling to remain profitable. Publicly traded mining companies buck trend Despite the challenges miners within the highly competitive industry face, some publicly traded Bitcoin mining companies are expanding their operational capacity and choosing to retain their mined BTC as a treasury asset. Mining firm MARA announced that it increased BTC output by 35% in May, amid a record-level hashrate and market volatility. On April 5, Bitcoin's network hashrate crossed 1 zetahash per second (ZH/s) in computing power — a significant milestone for the decentralized monetary protocol. Despite this, MARA announced that it mined 950 Bitcoin in May and increased its corporate treasury reserves to 49,179 BTC, making it one of the largest Bitcoin holders in the world. 'Record production month for MARA — and we sold zero Bitcoin,' the company's chief financial officer Salman Khan wrote in a June 3 X post. CleanSpark, a public Bitcoin miner focused on securing the network through clean energy, also increased its BTC production in May 2025. The company mined 694 BTC during the month, a 9% increase over production in April, bringing its total reserves to 12,502 BTC, according to its monthly report. 'We increased our month-end hashrate to 45.6 exahashes per second (EH/s), up 7.5% sequentially,' CleanSpark president and CEO Zack Bradford wrote in the May update. The growing trend of mining companies accumulating Bitcoin as a treasury asset also represents a significant shift in business strategy for mining firms that have traditionally sold their coins to cover operational costs. Source:

Nakheel awards $204m for Palm Jebel Ali infrastructure works
Nakheel awards $204m for Palm Jebel Ali infrastructure works

Arabian Business

timean hour ago

  • Arabian Business

Nakheel awards $204m for Palm Jebel Ali infrastructure works

Dubai's Nakheel has awarded three major contracts worth more than AED750m ($204m) to DBB Contracting LLC for the next phase of infrastructure works on Palm Jebel Ali. Scheduled for completion in Q4 2026, these contracts mark a key milestone in one of Dubai's most ambitious waterfront developments. The announcement underlines Nakheel's commitment to advancing Palm Jebel Ali's transformation into a world-class residential and tourism destination. Nakheel awards Palm Jebel Ali contracts The newly awarded contracts will support development across Fronds A to G and the Spine District — two vital areas in the 13.4km-long island, which boasts more than 90km of coastline and 16 fronds. Launched by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Palm Jebel Ali plays a strategic role in the Dubai Economic Agenda D33 and the Dubai 2040 Urban Master Plan. As Dubai pushes forward with its vision to create a new growth corridor in the Jebel Ali region, this mega-project is expected to set new global standards in luxury waterfront living. Khalid Al Malik, CEO of Dubai Holding Real Estate, said: 'Palm Jebel Ali exemplifies Dubai's ambition to redefine global waterfront living through an innovative luxury lifestyle mega project. The iconic development is set to transform the city's urban landscape in alignment with the leadership's vision to create a world-class destination that will attract residents, tourists and investors. 'We are pleased to extend our association with DBB Contracting LLC, a partner whose proven expertise and unwavering dedication to quality will help ensure the successful delivery of this important project.' The AED750m ($204m) investment will cover a wide range of infrastructure works including: Excavation, backfilling, road and pavement construction on Fronds A–G Utility works for 11kV power distribution and telecoms Utility mains and connections across the Spine District Major and secondary road networks Rough grading for the DEWA power transmission line DBB Contracting LLC — a trusted partner that has previously delivered infrastructure works on Palm Jebel Ali — will lead the operations. Eugene Terreblanche, General Manager, DBB Contracting LCC, said: 'DBB Contracting LCC is proud to be part of this landmark project and is excited to collaborate with Nakheel in shaping the future of Dubai. With our expertise and commitment to excellence, we look forward to bringing this visionary development to life.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store