Armenia invites miners to set up crypto farms at a soon to be decommissioned thermal power station.
The TPP will be decommissioned and the government intends to rent it out to industrial companies including mining enterprises.has been deemed obsolete and inefficient, producing expensive electricity, and authorities in Armenia have decided to shut down the old power plant in the near future. Its premises and infrastructure, including power lines, water and gas pipelines, will be offered to other, more profitable businesses.
In another part of the plant, a free economic zone called Ecos has been established and is now open. Entities involved in the extraction of digital currencies will be allowed to set up their crypto farms in this area. A law legalizing crypto mining in Armenia wasEven after the Hrazdan TPP is decommissioned, the mining facilities will have access to enough electrical energy. A new thermal power plant with four power generating units, Hrazdan-5, has been built nearby by the Russian giant Gazprom.
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