The Armenian miner Ecos has increased the capacities for cryptocurrency mining – Bits Media

The Armenian mining company ECOS against the backdrop of the redistribution of the capacities of Chinese companies expands its capacities with the support of the state.

Ecos marketing manager Anna Komashko spoke about the modernization of the enterprise in the distribution, which allowed to launch Cloud hosting power 60 MW. The mosquito explained, that the government "positions Armenia as a country of blockchain". This is manifested in tax benefits, which are provided to companies, wishing to work in a free economic zone (Family) Armenia.

“The main goal of creating a SEZ in the distribution was to attract a business to the development of high technologies, aid startamam, creating products in the field of blockchain and cryptocurrencies. That is why special preferential conditions are applied to companies ", She said.

Companies do not pay value added taxes, Customs duties or property taxes and real estate. Ecos, thanks to benefits, entered into a 25-year-old uninterrupted power supply contract. The cryptocurrency investment platform controls the mining center on the territory of the Razdan power station from 2018 years.

Four years ago, local authorities entrusted the company to develop a free economic zone (Family) In order to use an energy facility for a data center and cryptocurrency mining.

The agreement between the operator and the Armenian Government provides for encouraging direct foreign investment and the creation of products/services in the field of information technology.

In June, Chairman of the Committee of State Revenues of Armenia (Kgd) Rustam Badasyan said, that in connection with the growth of the number of cryptocresses, a separate legislation is required to regulate the digital assets industry.