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 are costing the region approximately $9.4 million annually in damages.
- Electricity metering will be introduced across villages to identify sources of illegal mining.
- Electricity remains free for consumers in Svaneti up to a certain limit, aimed at curbing illegal activities.
- Georgia’s low electricity costs and favorable tax conditions have attracted significant mining activities, including from companies like Bitfury.
The Georgian government is taking decisive steps against illegal crypto mining that is straining local energy resources, with Vice Prime Minister Mamuka Mdinaradze highlighting the financial impact and grid overload caused by these operations.
With electricity consumption soaring due to illegal Bitcoin mining, the region faces substantial financial losses estimated at $9.4 million each year as officials implement stricter monitoring measures.(Source)
