Largest crypto currency mining farm to be built in Armenia

YEREVAN, April 11. /ARKA/. The Armenian concern Multi Group and the Swedish company Omnia Tech are building the world's largest crypto-currency mining farm in Armenia, the founder of Omnia Tech Robert Velghe said today in Yerevan.

He said the farm will be using more than 150,000 machines for mining of bitcoins, ethereum and other crypto currencies.

"We intend to create here a blockchain-based center for the development of new information projects, which will turn Armenia into a high-tech platform," Velghe said.

He also said that the mining of crypto-currencies starts in Armenia later this month. He said some 500 foreign companies, including Facebook, Google and Amazon are expected to join these projects. Velghe noted that the company plans to invest more than $ 2 billion in these projects in the next two years.

CEO of Multi Group Sedrak Arustamyan noted in turn that at this stage the concern will assist in providing Omnia Tech with mining facilities and will help also with the technical support.

"We will also help Omnia Tech with the establishment of the Financial Technology Park  and the data exchange center in Armenia," Arustamyan said. -0-

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18:36 04/11/2018