Georgia Implements Measures Against Illegal Crypto Mining in Mestia
- Illegal crypto mining in Mestia has increased electricity consumption to 133 million kilowatt-hours, over 13 times the average of similar municipalities.
- The illegal operations have caused financial damages of approximately $9.4 million annually.
- Electricity metering will be implemented across villages to identify sources of illegal mining.
- Electricity remains free for consumers up to a certain limit, aimed at reducing the impact on legal users.
- Georgia’s low electricity costs and favorable tax conditions have attracted significant mining activity, including from major companies like Bitfury.
The crackdown on illegal crypto mining in Mestia is a response to the strain it places on the local power grid and overall energy supply, leading to outages affecting both residents and tourists.
With electricity consumption soaring due to illegal activities, Georgia aims to mitigate losses estimated at $9.4 million per year through these new measures. (Source)
