Baku, Azerbaijan, Oct. 18
By Huseyn Veliyev – Trend:
Some $70 million have been invested in the construction of a cryptocurrency mining farm of Sumgait Technologies Data Center (STDC) LLC, a source in the country's IT market told Trend.
The STDC data processing center based on the blockchain technology was established at the Sumgait Chemical Industrial Park, with the support of Azerenergy OJSC.
“The farm is equipped with Bitfury four-cluster equipment. The farm, which was commissioned in December last year, has already paid off the investments made,” the source said.
Another major mining farm of bitcoin cryptocurrency will be established at the premises of High-Tech Park LLC in the Pirallahi Technopark. The equipment will be installed on a designated area of 300 square meters. The exact dates for putting the farm into operation have not yet been determined, however, as previously reported, it is possible that it will be put into operation by the end of this year.
The project provides for the installation of several hundred pieces of equipment for mining, which will require attracting investments in the amount of approximately one million manats. The power supply of the mining farm will be provided through alternative energy sources.
The official exchange rate for October 18 is 1.7 AZN / USD.
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