Company can expand up to 200MW at Hrazdan natural gas plant
Cryptomining firm ECOS has launched a new cryptomine data center at a power plant in Armenia.
The company said this week that a 60MW mining center has been launched at the Hrazdan Power Plant across a 22,000 sqm (236,800 sq ft) site. According to ECOS’ website the mining facility consists of 12 mining containers alongside a main ECOS building.
Founded in 2017, ECOS has permission from the Armenian government to create and manage a Free Economic Zone to support the development of a blockchain industry in the country. The FEZ zone offers a number of tax benefits for mining activities.
The Hrazdan site, located in central Armenia in Kotayk Province, can reportedly accommodate more than 20,000 mining devices, with the potential to expand to an additional 200MW.
“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.
Hrazdan Power Plant is a natural gas-fired power plant. Built between 1963–1974, and the first unit became operational in 1966. A new unit was added in 2013. Four older units of the plant are owned and operated by the Hrazdan Power Company, a subsidiary of Tashir Capital. The new fifth unit is owned and operated by Gazprom Armenia. The four original units have a total capacity of 1,110MW, while the fifth unit offers 480MW.