Lithuania's Elektromarkt to engage in cryptocurrency mining - daily

  • 2018-02-22
  • LETA/TBT Staff

VILNIUS - Lithuania's consumer electronics and hardware retail chain Elektromarkt plans to invest 15 million euros in a company that will engage in cryptocurrency mining in Klaipeda, the business daily Verslo Zinios reported on Thursday

"We will operate based on the standard cryptocurrency mining model: people will rent cryptocurrency mining equipment under offered plans and will receive the cryptocurrency generated," Tomas Civilis, CEO of GV Group, the owner of Elektromarkt stores, told the paper.

He added that all of the company's capacity would be used for Ethereum mining.