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The Biggest Crypto Mining Firm Launches In Armenia, In Attendance Was The Country's Prime Minister

A cryptocurrency mining farm that is described as the largest in the world was launched on the 18th of October in the Armenia capital. In attendance was the Prime Minister of Armenia, top government officials, and dignitaries from neighboring countries as reported by the local news firm news Armenia.
The mining farm which is claimed to be the largest in the world is reported to be a joint venture between the major Armenian conglomerate Multi Group, founded by Gagik Tsarukyan, and controversial international mining firm, Omnia Tech.
In attendance were the Prime Minister of Armenia, Nikol Pashinyan and several international businesspeople. Gagik Tsarukyan, a co-founder, stated that the event attracted guests from almost forty countries. Tsarukyan noted that the event is an essential step towards the development of the information technology sector, especially since the representative of foreign business circles are planning to meet with the government members to find out the possibilities of new and more ambitious investment in the Armenia economy and expand the base of operation.
A sum of $50 million was reported to have been invested in the establishment of the mining farm, and it has 3,000 BTC and ETH Mining machine at the moment with a plan for the capacity of 120,000 equipment in the future.
The mining farm has the contribution of Tsarukyan, the founder of the Tsarukyan Alliance, the second biggest parliamentary bloc in the Armenia parliament. The bloc obtained 27 percent of the votes in the country’s election in 2017. Also, he is a major business partner of the former Armenia president, Robert Kocharyan. The multi-group firm owned by Tsarukyan employs over 25,000 people through its various subsidiaries.
Also, Omnia a cryptocurrency mining platform is stated to be the owner of the equipment used in the farm and its supplied by the giant cloud mining firm, Genesis mining.
However, this underscores an obvious controversy from 2017 when Omnia was accused of misappropriating the Genesis brand name and also falsely claiming to have an association with Genesis. This has been over time refuted by Genesis that there is no official partnership between the two firms, than Omnia patronizing the firm for hash power.
Further, Chris Kubecka, a security researcher in May accused Omnia of operating a pyramid scheme of a false claim of having a legitimate association with Genesis.

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