The National Security Service of the Republic of Armenia, as a result of operational and search measures undertaken within the framework of implementation of its functions to fight the crimes of an economic nature, detected a case of carrying out production of cryptocurrency (“mining”) through the illegal use of electricity.

According to the obtained preliminary data, a company operating in IT sphere, not being registered in “Electric Networks of Armenia” CJSC as a subscriber consuming electricity and illegally using electricity, engaged in “mining”- getting and releasing cryptocurrency - through cryptocurrency mining equipments (“farm”) installed on the territory of one of the hydroelectric power stations in RA. As a result of the mentioned activity, more than 1,7 mln  kilowatt electricity - worth around 73 mln AMD - was illegally consumed within 18 months.

Materials are being prepared on the fact of the apparent crime, the amount of damage caused to the State and to “Electric Networks of Armenia” CJSC is being calculated; measures are being taken to detect the circle of persons engaged in illegal activity.

Note: The suspect or accused of an alleged crime is considered innocent as long as his guilt is not proven in a manner prescribed by the Code of Criminal Procedure of RA-by the court decision entered into legal force.