Chinese and Japanese companies may set up cryptocurrency mining farm in Azerbaijan

Chinese and Japanese companies may set up cryptocurrency mining farm in Azerbaijan
  • Clock-gray 16:03
  • calendar-gray 15 October 2019

Negotiations are underway with Chinese and Japanese companies to establish cryptocurrency mining farm in the Innovation Agency's Pirallahi area, the member of the Board of Innovation Agency Fariz Guliyev told APA-Economics.

According to him, the main subject of ongoing negotiations is to create more favorable conditions for these companies which may play a key role in the implementation of the project, namely in Azerbaijan.

"There are several regions that can compete with Azerbaijan in this area, and their proposals are also being analyzed by the companies of these countries. Therefore, we should offer better conditions. For instance, one of the key points is the costs that will be spent on energy consumption or the availability of affordable rent for the area where its infrastructure will be built. If an agreement is reached on these or other points, the project can be implemented soon” said F. Guliyev.

Huseyn Veliyev

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