A new ECOS data center with a capacity of 60 MW has been launched in Armenia. Full state support for the Free Economic Zone provides unique benefits and affordable electricity for mining.
In 2018, the Armenian government entrusted ECOS to create and manage a Free Economic Zone to support the development of high technologies and the blockchain industry in the country.
The new plot can accommodate more than 20,000 mining devices on an area of 2.2ha, with the potential to expand to an additional 200MW.
Moreover, the optimal temperature of this region allows to eliminate problems with overheating without additional expenses – the average annual temperature in Hrazdan is 4.8°C.
“We have come a long way from legalizing mining in Armenia to launching our own energy infrastructure that is ready for scaling. We want to offer our partners simplicity in everything: from launching your mining business on our data-center to daily monitoring of the result in the application without leaving your home” — said Ilya Goldberg, managing partner of ECOS. — “Our bundled product is made to serve both institutional and retail clients from any part of the world.”
Armenia patronizes the blockchain/mining sector and has allowed the creation of FEZ with unique conditions such as 0% income tax and 0% VAT, 0% import and export duties, 0% property and real estate taxes for the next 25 years, which allows our partners to receive maximum revenue on capital.
At present days due to the lack of stable and affordable electricity in the world and the constantly changing legal requirements, ECOS services are extremely relevant, the company said.