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Armenia plans to welcome BTC miners for setting up shop in an abandoned TTP. The thermal power plant would get decommissioned, and the government plans to lease it to industrial firms, particularly mining firms.

Miners Encourage to Set Up Data Centers at Armenia’s Previous TPP

The Hrazdan thermal power plant’s technologies have been judged antiquated and unproductive, leading to an increased-price electricity, as well as Armenian officials have tried to shut it down shortly. Its buildings and facilities, such as electrical cables, water, and gas pipes, would get sold to other, more profitable companies.

According to Sputnik Armenia, the idea of renting out the ancient thermal plant was accepted during a session of the CRPS’s on 19th January. Based on a news piece, a firm responsible for manufacturing refrigeration systems has recently made negotiations to relocate a part of its development to the thermal power plant.

Ecos, a free trade area in another factory area, has been constructed and is currently operational. Cryptocurrency farms would be given permission for establishing shops in this region for those extracting cryptocurrencies. In 2018, Armenia successfully passed a law making cryptocurrency mining acceptable.

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The mining enterprises would have ample electrical energy even when dismantled the Hrazdan thermal power plant. Hrazdan-5, a new TPP alongside 4 electricity production units, was developed close to the Russian conglomerate Gazprom. Another thermal power plant was finished during November 2021 by Renco and Siemens.

Armenia currently possesses 3 modern TPPs, like the state-owned Yerevan thermal power plant. Based on a study, the current they generate is costlier than that provided by hydroelectric power plants and the United States nuclear power station situated at the west side of the metropolis.

Armenia’s Collaboration With Iran

On the other hand, the little Caucasus nation sells about 75 percent of its electricity to Iran, responsible for providing Armenia with affordable natural gas for the electrical energy production. The collaboration between both countries would be increased following the building of a novel transmission line lying in between the Islamic Republic and Armenia in 2023.

Crypto mining has grown in popularity in Iran, recognizing it as a legislative financial activity in 2019. The industry’s energy requirements have risen, including licensed and unlicensed miners who were criticized in 2021 for the increasing electricity shortfall of the nation.

In May, President Hassan Rouhani ordered a temporary prohibition on crypto-mining, citing increased need and limited electricity supply due to extreme heat and drought. In September, the limitations were dropped while electricity use fell because of the cooler temperature, but they were reinstated during the December period to avert winter outages.

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Alicia Maher

By Alicia Maher

Alicia Maher is an accomplished news writer with a passion for storytelling. With years of experience in the field, she is skilled at delivering accurate, engaging, and insightful news coverage to her audience.