Cryptocurrency mining farm created in Azerbaijan
Baku, Azerbaijan, March 28
By Huseyn Valiyev – Trend:
Sumgait Technologies Data Center LLC (STDC) has created its own full-fledged cryptocurrency mining farm, a source in the country’s IT market told Trend.
The source said that the STDC data processing center based on blockchain technology has been created at the Sumgait Chemical Industrial Park.
“There are a number of enterprises in the country that have their own full-fledged mining farms. One of such structures is STDC, where a relevant DATA-center based on blockchain technology was created with the support of Azerenergy OJSC,” the source noted.
Mining, according to the source, is not unusual, and it can be compared with the activities of a regular Internet club, except that the principle of its activities is technologically different.
“The vast majority of local miners do not cash the cryptocurrency, relying on the fact that it will rise in price. Others keep cryptocurrencies in their wallets for trading on exchanges, or they change them to another coin in order to keep a stable exchange rate,” the source added.