Decommissioned Armenian Power Plant to Become Mining Farms for Cryptocurrencies
According to reports, the government of Armenia intends to rent out an old thermal power plant to industrial companies. One potential tenant is a cryptocurrency mining enterprise.
The Hrazdan Thermal Power Plant, built in 1966, was deemed outdated and the electricity it generates is more expensive than the energy produced by the Armenian nuclear power station west of the capital city.
Therefore, the Armenian government will shut down this obsolete power plant in the near future. The plant’s premises and infrastructure — including power lines, water and gas pipelines — will be offered to other businesses, which need them.
Entities involved in the extraction of digital currencies will be allowed to set up their crypto farms in this area. Even after the Hrazdan TPP is decommissioned, the mining facilities will have access to enough electrical energy.