Georgian authorities have taken up the fight against illegal mining

According to the country's Minister of Economy, the active cryptocurrency mining in Svaneti has led to power shortages

11.01.2022 - 12:55

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What’s new? Georgian Minister of Economy Natia Turnava stated that the local authorities and the energy distribution company Energo-pro Georgia are now actively solving the problem of illegal cryptocurrency mining in Svaneti. The Ekho Kavkaza publication reports about it.

Material on the “Ekho Kavkaza” website

What did Turnava say? According to the Minister, over the past year, the electricity consumption in the village of Mestia sharply increased because of the mining farms. The cryptocurrency miners come here because of the low business tariffs and free electricity for the locals.

As a result of the active mining in the region, the grid congestion was recorded, and the authorities have imposed a power supply schedule. Turnava noted that such cases of illegal household mining are unacceptable.

How do the Georgian authorities treat cryptocurrencies and blockchain? At the end of October, it became known that the National Bank of Georgia is working on introducing a digital lari into circulation. The pilot program should be launched this year, said Papuna Lezhava, Vice President of the Central Bank.

According to him, the digital lari will be able to compete with cryptocurrencies in a number of services, but will not be of a speculative nature.

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