Crypto Currency Mining Farm Opened In Yerevan.

Big crypto currency mining farm opens in Yerevan


YEREVAN, October 19. /ARKA/. One of the largest crypto currency mining farms opened Thursday in Yerevan.

This first in Armenia crypto currency mining farm has been established under cooperation of Armenia’s Multi Group Concern and Omnia Tech International Company.

The opening ceremony was attended by Armenian Acting Prime Minister Nikol Pashinyan 

and Gagik Tsarukyan, an Armenian entrepreneur and the head of Multi Group.

Businessmen from China, South Korea, the United Arab Emirates and other countries came to Armenia to attend the opening ceremony.

Speaking at the ceremony, Tsarukyan said that $50 million has been invested in the creation of the farm.
He said that around 40 guests are expected to come to Armenia in the next two days.

They will also meet with representatives of the government to learn opportunities for greater investments in the country.

Now 3,000 machines producing bitcoins and Ethereum operate in the mining farm. The number of machines are planned to be increased to 120,000.

The first floor of the building is designed for an IT business center with non-stop operating services.
OMNIA is the owner of the machinery deployed in Genezis Mining company’s mining farms.

Multi Group Concern was established in 1998 on the initiative Gagik Tsarukyan,
a tycoon and the head of the Tsarukyan parliamentary faction. The Multi Group consists of many companies where 25,000 people work.