Georgia goes after crypto miners

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On January 10, Georgian Economy Minister Natia Turnava told reporters that the Government of Georgia and the energy distribution company Energo-pro Georgia are engaged in solving the problem of illegal mining of cryptocurrencies in the Svaneti region, which leads to an overload of power grids.

The problem is connected with a sharp increase in electricity consumption over the past year in the Mestia region of Svaneti. Widespread mining in the area is associated with low tariffs for businesses in the highland area and free electricity for the local population.

In December, the Georgian authorities had to introduce an electricity supply schedule in Mestia due to network congestion and recurring accidents.

“Of course, illegal electricity consumption is unacceptable, especially the so-called problems with household mining, which, as we know, exist there. We are working with the local government, as well as with Energo-pro Georgia, which supplies electricity to Svaneti, to solve this issue step by step,” Turnava said.

She added that she does not think it is justified to involve the police in identifying the mining farms. The Minister of Economy hopes that the population itself is aware of the threat to the tourism sector inherent in the district, and will draw conclusions about this based on its own interests.

It’s interesting to note that at the end of December, Mestia residents held protests demanding the closure of mining farms and accused the authorities of patronizing miners.