Georgia follows crypto miner who use subsidized electricity in the historical city-mining Bitcoin messages
Georgia follows crypto miner who use subsidized electricity in the historical city-mining Bitcoin messages
A record-high power consumption that is attributed to illegal crypto farms in the northwest of Georgia has attracted the attention of the authorities in the capital of Tbilisa. The central government and the local energy suppliers take on the question of dealing with electricity bottlenecks in the Swanetia mountain region.
In view of the pandemic in tourism, people in Georgia turn to cheap energy
The government of Georgia, a small nation in the Caucasus, has teamed up with the energy distribution company Energo-Pro in order to combat the increasing illegal use of electricity to reduce cryptocurrencies in the Swanetia region. This was announced this week at a press conference.
The extraordinarily high electricity consumption of mining companies in the area of the historical city mestia has been a hot topic for a whole month, the news agency Novosti-Georgia reported. Svaneti attracted Miner with its low electricity tariffs that were introduced for companies in the mountain region. The population of Mestia has access to free electrical energy.
The residents of Swanetia had to put up with a limited power supply by the end of December. Underground crypto miners were held responsible for the bottlenecks and damage to the power grid. Minister Turnava commented:Of course, the illegal electricity consumption is unacceptable, especially the problems with home mining there. We work with the local government and with Energy-Pro Georgia, which supplies swanetees with electricity, to gradually solve this problem.
inhabitants of Mestia have held several demonstrations that demanded the closure of the mining arms and accused the local authorities to protect the miners. Meanwhile, Energo-Pro Georgia threatened to increase electricity tariffs for the region. Despite this and the protests, consumption has not yet decreased.
"Compared to previous years, consumption has increased by 237% this year," said the municipality of Mestia in a statement last month. The local authorities also asked for residents who are involved in the characteristics of digital currencies.
Natia Turnava expressed her hope that people in the region will not endanger the tourist season. With beautiful landscapes, medieval towers and old traditions, swanetees and mestia have attracted thousands of visitors in the past decade. However, since the number of tourists declined in the middle of the Covid 19 pandemic, the locals found an alternative source of income in mining.
Georgien was a target = "_ blank" htef = "https://news.bitcoin.com/georgia-has-becomme-eurasias-cryptocurrency-mining-epicenter/" Rel = "noopener"> mining-hotspot a few years ago as the country as a second profitable location for Bitcoin miner ranked. According to a study by the Cambridge Center for Alternative Finance (CCAF) from 2018, the country also took second place in electricity consumption for mining cryptocurrencies. In August 2021, its share of the global average monthly hashrate was 0.18 %.
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