Took this photo a couple of days ago at sunrise while my wife and I were staying in Mitzpe Ramon on a mini vacation.
There are only 3 of these types of craters (called Makhtesh) in the world and they are all in the Middle East. This one in Israel's Negev Desert is the biggest one, and it is 500 m deep and several kilometres across. These Makhtesh form when harder rock covers softer rock. As the softer rock erodes away the top layer collapses forming a crater.