Baku, Azerbaijan, Nov. 28
By Huseyn Valiyev – Trend:
The implementation of a project to launch a cryptocurrency mining farm based on the Pirallahi Technopark LLC has been postponed until 2019, a source familiar with the matter told Trend.
The postponement of the project is related to the elimination of High-Tech Park LLC, which, just like the State Fund for the Development of Information Technologies, will be transferred to the ownership of the Azerbaijan Innovation Agency, according to the source.
“The project is scheduled to be implemented after the charter of the Azerbaijan Innovation Agency is approved,” the source noted. “The procedure for transferring the Pirallahi Technopark LLC to the Agency’s balance may take time. Therefore, launching a mining farm is delayed. But this issue is on the agenda, even though there is some skepticism about cryptocurrencies, which is due to the decline in the Bitcoin rate. However, considering the current growth trend every two years, the Bitcoin rate may increase twice in a year.”
As for the project to launch a mining farm of cryptocurrency (Bitcoin, Ethereum, Zcash, Monero, etc.), a room that will be allocated for this purpose is ready, and it remains only to obtain the appropriate permission to operate the building.
The mining farm will be located in the Pirallahi Technopark. The equipment will be installed on the allotted area of 300 square meters. The project envisages installation of several hundred pieces of equipment for mining, and this will require raising investments worth about 1 million manats.
The mining farm will be provided with electricity from alternative energy sources (wind and solar energy).
(1.7 manats = 1 USD on Nov. 28)
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