• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
  • 200 FREESPINS
Breaking News: Tether Announces Strategic Partnership To Combat Stablecoin Misuse
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
  • 200 FREESPINS
Bitcoinist.com
No Result
View All Result
Breaking News: Tether Announces Strategic Partnership To Combat Stablecoin Misuse
Crypto mining

Former Soviet Republic Is Primed For Crypto Mining, Despite Its Burgeoning Power Deficit

Christian Encila
by Christian Encila
3 years ago
·
Posted in Bitcoin, Bitcoin ASIC Miner, Bitcoin Gold, Bitcoin Mining, Bitcoin Price, Bitcoin Regulation, Bitcoin Technology, Blockchain, Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Georgia’s crypto mining economy has evolved into a global leader in recent years, largely because of low taxes and affordable electricity rates, as well as a libertarian regulatory environment.

Despite its small population, Georgia contributes nearly 1% of the industry’s total hash rate, according to a study by Arcane Research.

Although Georgia is a non-entity in the mining sector, the country boasts abundant hydropower and ranks seventh globally in the World Bank’s ease-of-doing-business index, ahead of Britain and Germany.

Georgia has a large number of Bitcoin miners, despite the country’s limited size and population.

The country has a total area of 69,700 square kilometers and a population of 3.7 million, excluding the occupied territories. Georgia’s capital and largest city, Tbilisi, is home to roughly 25% of its population.

What Makes Georgia A Crypto Mining Hotspot?

After spending six months in the former Soviet republic, Arcane’s analyst penned a piece on the country’s bitcoin mining business.

According to the report, the crypto mining business in Georgia consumes 125 megawatts, of which 100MW are allotted to Bitcoin mining.

Arcane suggested that Georgia’s true hash rate would be far higher than the 0.18% reported by the Cambridge Bitcoin Electricity Consumption Index (CBECI).

Based on Georgia’s overall crypto mining capacity, further study by Arcane found that the country actually contributes 0.71% of the total hash rate.

Two industrial-scale mining operations and an estimated 200,000 small home mining operations make up Georgia’s mining sector.

BTC total market cap at $722.875 billion in the daily chart | Source: TradingView.com

Related Article | Intel Blockchain Chip: The New Crypto Mining Revolution Likely To Begin

Popping Up Like Mushrooms

Mining devices have sprung up across the country in recent months — from rural households to data centers operated by Bitfury.

Bitfury is a global company that owned a sprawling data facility in the Tbilisi Free Zone, a 17-hectare tax-free industrial area that was launched in December 2015 in the suburb of Gldani.

Subsidized electricity in mountain locations has lured many miners, much to the chagrin of local authorities.

The process of mining cryptocurrency is like minting real money, except that anyone with the right equipment and operating system can do it, by participating in a virtual competition that amounts to a massive virtual race.

In exchange for finding the correct answer on their computer, the owner of the computer is given “blocks,” which are digital units of bitcoin or another cryptocurrency.

These units are recorded and confirmed on the blockchain, which is a decentralized database.

115K Georgians Own Crypto

Cryptocurrency is now owned by about 115,000 Georgians, or over 3% of the country’s entire population, according to official estimates.

Since 2017, Georgia has become a net importer of energy because of an increase in local consumption and a lack of new generation capacity.

At present, Georgia is the world’s second biggest bitcoin mining country, trailing only China in terms of hashing power.

Even one Georgian political party has begun using supporters’ computers to mine cryptocurrency.

With electricity traditionally being more heavily subsidized in the Alazani Valley, the wine country has been experiencing a kind of digital gold rush.

Related Article | Bitcoin Mining Stocks Resume Uptrend As Price Rises Again

Featured image from Arcane Research, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christian Encila

Christian Encila

Follow

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Full Profile

Related Posts

Crypto

China Softening On Crypto? Shanghai Hosts Rare Digital Currency Policy Meeting

39 minutes ago
TRON

TRON’s Justin Sun Goes Head To Head With Elon Musk Over Trump — Here’s What We Know

1 hour ago
crypto

Tokenized Assets? SEC Says They Still Fall Under Securities – ‘Crypto Mom’ Speaks

4 hours ago
Best Altcoins to Watch as Trump Eyes Quick Crypto Win with Stablecoin Bill

Best Altcoins to Watch as Trump Eyes Quick Crypto Win with Stablecoin Bill

11 hours ago
Bitcoin

Bitcoin Is The ‘Manhattan’ Of The Digital Age, Says Scaramucci–Here’s Why

13 hours ago
Crypto Markets Rebound in Q2 2025: Top Takeaways from the Latest 99Bitcoins Report

Crypto Markets Rebound in Q2 2025: Top Takeaways from the Latest 99Bitcoins Report

14 hours ago
Please login to join discussion

Premium Sponsors

Press Releases

  • Earn $3,300 a day – Start a Dogecoin Miner Using...

    5 hours ago
  • Make $6,870 a day? You can also easily achieve the profit...

    5 hours ago
  • ETHRANSACTION Cloud Mining: Let Dogecoin truly “win...

    10 hours ago
  • How to Invest $100K? Top Secure Crypto Mining Platforms in...

    11 hours ago
  • mining

    AIXA Miner’s Advanced AI Cloud Mining Solutions Help...

    13 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
  • 200 FREESPINS
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.