%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment Canadian cryptocurrency miner Hut 8 (NASDAQ: $HUT ) is expanding to the Middle East. The company, which also develops artificial intelligence (A.I.) data centres, has registered to open a new office in Dubai, a city in the United Arab Emirates (UAE). It will be Hut 8's first location in the Middle East. Dubai is an increasingly popular location for cryptocurrency companies owing to its business-friendly taxes and regulations. The new office in Dubai will "enhance the precision and efficiency of Hut 8's capital strategy," said company CEO Asher Genoot in a television interview. The timing of Hut 8's Middle East expansion has raised eyebrows among some analysts due to its timing with a war raging between the U.S., Israel and Iran. Over the past month, Iran has fired drones and missiles at several locations in Dubai as it retaliates against its Middle East neighbours. Iran's regime also recently issued a list of about a dozen U.S. technology companies it plans to attack in the Middle East, including the operations of Apple (NASDAQ: $AAPL ) and Nvidia (NASDAQ: $NVDA ). Hut 8 did not say when exactly it planned to open its new office in Dubai. The company currently has operations in Canada and the U.S. HUT stock has risen 252% over the last 12 months to trade at $46.91 U.S. per share.