ECOS-M has signed an agreement with Hrazdan Thermal Power Plant (RazTES) on provision of electric power for construction of a mining center with 50MW capacity in the Free Economic Zone (FEZ) in Armenia. The parties have also agreed on potential increase of capacity up to 200MW.

ECOS-M and Armenian Blockchain Forum (ABF) have informed that the mining center, the main advantages of which will be the autonomous power source, efficient management system and tax benefits, is currently under construction and will open this April.

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“This farm will provide wide access to mining: ECOS-M will create opportunities not only for large investors, but also for all potential participants of the project, regardless of their financial capacities. With the direct power source and the tax benefits provided in FEZ, the platform will make a strong competition for companies in the global blockchain market,” stated the press service.

ECOS-M Managing Partner Ilya Goldberg has noted that the first stage of the program for creation of a tech cluster in Armenia is underway. He has also informed that ECOS-M and Armenian Blockchain Forum will jointly hold an international forum in Yerevan in April 2018. Key figures of the international blockchain industry are expected to attend the event. The forum will be Armenia’s first global event dedicated to blockchain and artificial intelligence.