At the heart of this initiative is a community-driven competition model that transforms traditional mining into a more engaging and rewarding experience. Unlike conventional mining structures that offer fragmented payouts, the model will reward participants based on each newly mined Bitcoin block, bringing back the excitement and fairness of early Bitcoin mining.

Rami Alsridi, Founder and CEO, Mining Grid said, “Our goal is to bring back the original vision of Bitcoin—a decentralized system where individuals can actively participate and benefit fairly. Our model ensures that individual miners have a real chance to win meaningful rewards, making mining more engaging and financially rewarding.”

This model provides an accessible and cost-effective entry point for individuals looking to participate in Bitcoin mining. By restoring fairness and decentralization to mining rewards, it fosters a global network where participants compete and collaborate, enhancing engagement while promoting sustainability and inclusivity.

Solaiman Al-Rifai, Founder and Board Member, Mining Grid said, “With over 50,000 app users, the demand for fair and competitive Bitcoin mining solutions is clear. This launch builds on the success of Mining Race and further strengthens our commitment to innovation and accessibility in the mining space.”

With Bitcoin’s mining difficulty reaching record highs and institutional players dominating the landscape, Cores Racing represents a transformative step in making mining more inclusive, rewarding, and competitive. Mining Grid continues to drive innovation as the industry evolves, ensuring that Bitcoin’s core principles of decentralisation and fairness remain at the forefront.

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The Mining Race is a global program designed to empower the community to actively participate in the primary mining market, contributing to the decentralised blockchain network. This innovative platform offers access to mining opportunities and fosters awareness and education about Bitcoin (BTC) and cryptocurrency adoption. The Mining Race awarded the highest achievers within its community, celebrating innovation, success, and teamwork. Additionally, Mining Grid’s newly launched showroom in Dubai will serve as a hub for crypto enthusiasts to explore the latest technologies – providing hands-on demonstrations of advanced mining equipment.

At the event, which welcomed guests from over 50 countries, Mining Grid emphasised the growing prominence of crypto and blockchain technology globally. Crypto, especially BTC, has seen increasing adoption as a trusted financial system, with experts projecting that up to 25% of global money supply transactions could transition to digital form in the near future. Blockchain’s transformative power lies in its ability to eliminate traditional intermediaries, decentralising financial transactions and allowing individuals and businesses to verify and process transactions independently.

The UAE continues to be a major player in the blockchain and crypto space, positioning itself as a key hub for technological innovation. With Dubai’s strategic vision and progressive regulatory environment, the country has become an attractive destination for blockchain-based businesses and investments.

Solaiman Al-Rifai, Founder and Board Member, Mining Grid said, “Mining Grid’s initiatives, such as the Mining Race and the new showroom, are aligned with the growing movement toward widespread Bitcoin adoption and the blockchain’s potential to reshape industries. As more businesses and individuals embrace the power of decentralisation, the future of finance is poised for a digital transformation.”

Rami Alsridi, Founder and CEO, Mining Grid said, “Bitcoin has grown from just a few cents to a market cap of $1.3 trillion, connecting communities worldwide. Through the Mining Race, we aim to unite the crypto community and build a stronger, decentralised future.”

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The event, sponsored by ICONX and set to take place on September 28, 2024, in Dubai, is not just another crypto and blockchain gathering. It will feature expert talks and panel discussions that delve into the latest insights and trends in digital currencies, decentralised finance (DeFi), market adoption, regulatory shifts, and the Middle East’s expanding role in the global crypto/blockchain landscape.

Thanks to progressive policies and rapid development, the Middle East has become a crucial player in the crypto world. Recent studies indicate a significant rise in crypto adoption, with a projected market growth of 15% over the next five years globally. Major markets such as the UAE and  KSA, are positioning themselves as global leaders in blockchain technology, driven by favourable regulations and strategic investments.

Additionally, the UAE has seen a significant increase in its share of global Bitcoin mining, now accounting for 4% of the market, up from 3.7% in the previous year. The global Bitcoin mining market is projected to reach $2.8 billion by 2028. This growth is driven by increasing institutional investments, advancements in mining technology, and favourable regulatory environments in key regions.

Mining Grid, spearheaded by H.H. Sheikh Saeed bin Hasher Al Maktoum, Solaiman Al-Rifai, and Rami Alsridi, has seen remarkable success since last year’s Mining Race, which attracted subscribers from around the world. The upcoming event marks a pivotal moment in the company’s growth, solidifying its position as a leading platform for blockchain innovation and BITCOIN Mining.

“Mining Race official launch in the Middle East reflects the region’s increasing prominence in the global blockchain and cryptocurrency sector,” said Solaiman Al-Rifai, Founder and Board Member, Mining Grid. “Following the success of last year’s Mining Race, we are excited to deepen our community-building efforts by fostering meaningful connections between innovators, investors, and regulators. This event is a critical step towards creating a more inclusive and thriving crypto ecosystem.”

Ali Abuzinjal, Founder and CEO, ICONX said, “We are proud to support and sponsor Mining Grid’s inaugural crypto and blockchain event and be part of their journey. We believe in fostering strong networks and building vibrant communities, and this event is an exciting opportunity to bring together innovators, investors, and thought leaders to shape the future of blockchain in the region.”

Rami Alsridi, Founder and CEO of Mining Grid said, “Our mission is to revolutionise the bitcoin mining industry through secure innovative solutions and community-driven platforms.”

The event is designed to drive engagement and knowledge-sharing among institutional investors, tech innovators, crypto start-ups, and individual traders, contributing to the continued growth of the region’s dynamic blockchain community

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With headquarters in the UAE, the company is led by H.H. 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 reports, 2UAE, 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 1M 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.

Rami Alsridi, Co-founder and Managing Director, Mining Grid 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.

Solaiman Al-Rifai, Board Member, Mining Grid 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 democratize 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.

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