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Armenia to be home to 50 MW bitcoin mining farm

Cryptocurrency fever seems to have spread to the former Soviet republics with Armenia, the land of Mount Ararat, being one of them.

The country will soon boast a mining farm, involving a data center technically equipped for mining bitcoins as well as other digital currencies, Sputnik International says.

It is first projected to have 50 MW capacity, potentially reaching 200 MW, which is to be supplied by the Hrazdan thermal power plant, according to a report by ECOS-M, the mining equipment distributor.

The report further reveals that the mining center is now under construction and is due to be launched in April.

According to the company, the first half of 2018 will see the construction of an international accelerator which will serve as a platform for the launch and development of innovative international projects, based on blockchain technology.

The estimates by ABF suggest the prospective ecosystem will create 250-300 well-paid jobs and attract as much as 120 million dollars of investment.

Source: panarmenian.net

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