Crypto mining hosting in Armenia
Armenia has recognised that digital currencies are now becoming part of modern economies, including the crypto mining industry. Armenia has taken clear steps to incentivise crypto mining activities by openly inviting miners to the country and set up proper regulation and infrastructure to encourage individual and institutional investors to profiting from it. A clear example has been the case of the Hrazdan Thermal Power Plant; initially planned for shutdown in January 2022, it has been reconverted into a site dedicated to power digital mining operations, in addition to declaring the surrounding area as a Free Economic Zone.