Invest In Crypto News
  • Home
  • Latest News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
    • Blockchain News
    • Doge News
    • NFT News
    • Video
    • Market Analysis
    • Business
    • Finance
    • Politics
    • Mining
    • Regulation
    • Technology
  • Top 10 Cryptos
  • Market Cap List
  • IC DAO
  • Donations
  • Contact
  • Buy Crypto
  • IC DAO
No Result
View All Result
Invest In Crypto News
  • Home
  • Latest News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
    • Blockchain News
    • Doge News
    • NFT News
    • Video
    • Market Analysis
    • Business
    • Finance
    • Politics
    • Mining
    • Regulation
    • Technology
  • Top 10 Cryptos
  • Market Cap List
  • IC DAO
  • Donations
  • Contact
  • Buy Crypto
  • IC DAO
No Result
View All Result
Invest In Crypto News
No Result
View All Result

Georgia Announces Crackdown on Illegal Bitcoin Mining

CryptoExpert by CryptoExpert
June 2, 2026
in Bitcoin News
0
Cointelegraph
  • Facebook
  • Twitter
  • Pinterest


You might also like

Strengthening Dollar and OG Selling Pressure Keep Bitcoin Bears in Control 

Bitcoin Bulls Fight to Avoid New Lows as Stocks Stay Volatile

Bitcoin Bulls Lose $160M as BTC Slides Under $62K and Analysts Eye $50K Target

Georgia will reportedly install electricity meters across villages and settlements in Mestia as part of a crackdown on illegal crypto mining that officials say is straining the region’s power grid.

Vice Prime Minister Mamuka Mdinaradze said Monday that illegal mining had pushed Mestia’s electricity consumption to 133 million kilowatt-hours in 2025, more than 13 times the level of comparable municipalities, according to local outlet 1tv.

Large-scale illegal mining operations have led to deteriorating energy supply and grid overload, resulting in numerous outages in the region, affecting both residents and tourists, Mdinaradze reportedly said, adding that law enforcement agencies have also been tasked with identifying illegal mining operations.

Cointelegraph reached out to the Georgian government for comment on the sanctions for illegal mining activities and whether these operations are offered a licensing pathway for legitimization.

okex

Mdinaradze speaking at a Monday press conference. Source: 1tv.ge 

Illegal Bitcoin mining cost Mestia $9.5 million annually, says vice PM

Illegal Bitcoin mining operations in the Municipality of Mestia pushed the region’s electricity consumption to 133 million kilowatt-hours in 2025, exceeding the ordinary average of about 10 million kilowatt-hours for similar regions.

This additional electricity output resulted in financial damages of about 20-25 million lari, or up to $9.4 million annually, according to Mdinaradze.

He added that metering will be implemented both locally and on a larger scale across each village or settlement, helping identify the exact sources of illegal mining operations.

He added that electricity in Svaneti will remain free for every consumer up to a predetermined quantity and that the new arrangements only serve to crack down on illegal mining operations.

Related: Maestro launches mining-backed Bitcoin credit market for institutions

Georgia offers cheap electricity due to abundant hydropower from the Caucasus Mountains, making it a popular destination for Bitcoin mining operations seeking cheap energy sources.

Georgia has also attracted crypto-mining activity through low electricity costs and favorable tax treatment, including free industrial zones and value-added tax exemptions on certain crypto-related activities.

Bitcoin mining company Bitfury was among the first major companies to establish operations in the country. In 2014, Bitfury built a 20-megawatt Bitcoin mining facility known as the Gori Data Center.

Magazine: 6 weirdest devices people have used to mine Bitcoin and crypto 



Source link

  • Facebook
  • Twitter
  • Pinterest
Tags: Bitcoin
CryptoExpert

CryptoExpert

Recommended For You

Strengthening Dollar and OG Selling Pressure Keep Bitcoin Bears in Control 

by CryptoExpert
June 24, 2026
0
Strengthening Dollar and OG Selling Pressure Keep Bitcoin Bears in Control 

Bitcoin is facing pressure on two fronts with continued selling pressure and a new macro headwind, say analysts.  A strengthening US dollar could put further pressure on...

Read more

Bitcoin Bulls Fight to Avoid New Lows as Stocks Stay Volatile

by CryptoExpert
June 23, 2026
0
Cointelegraph

Bitcoin (BTC) stayed uncertain at Tuesday’s Wall Street open as US stocks responded to an earlier Asia tech sell-off.Key points:Bitcoin bulls attempt to avoid a deeper drop below...

Read more

Bitcoin Bulls Lose $160M as BTC Slides Under $62K and Analysts Eye $50K Target

by CryptoExpert
June 23, 2026
0
Bitcoin Bulls Lose $160M as BTC Slides Under $62K and Analysts Eye $50K Target

Key TakeawaysCrypto liquidations topped $700 million on Tuesday as bitcoin fell under $62,000, wiping out June 22 gains.Long positions made up 80% of total losses, hitting bitcoin and...

Read more

Strategy Buys More Bitcoin but Turns Attention to USD Reserve With $300M Injection

by CryptoExpert
June 23, 2026
0
Strategy Buys More Bitcoin but Turns Attention to USD Reserve With $300M Injection

The decline in the amount of BTC purchase comes amid growing criticism against the company's STRC. After hinting at buying more bitcoin on Sunday, Strategy’s co-founder and...

Read more

Three Reasons Why Bitcoin Holding $63K May Mark The Bottom

by CryptoExpert
June 22, 2026
0
Cointelegraph

Bitcoin (BTC) continues to exhibit a strong technical setup after holding a weekly close above $63,000 for three consecutive weeks since tagging a new 2026 low near $59,000....

Read more
Next Post
Cointelegraph

HIVE Bitcoin Holdings Fall as Revenue Hits Record $298M

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business
  • Doge News
  • Ethereum News
  • Finance
  • Market Analysis
  • Mining
  • NFT News
  • Politics
  • Regulation
  • Technology
  • Trending Cryptos
  • Video

Sitemap

  • Market Cap
  • Donations
  • Trading
  • Mining
  • Contact

Legal Information

  • Privacy Policy
  • Anti-Spam Policy
  • Copyright Notice
  • DMCA Compliance
  • Social Media Disclaimer
  • Terms Of Service

Categories

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business
  • Doge News
  • Ethereum News
  • Finance
  • Market Analysis
  • Mining
  • NFT News
  • Politics
  • Regulation
  • Technology
  • Trending Cryptos
  • Video

© Copyright 2024 InvestInCryptoNews.com

No Result
View All Result
  • Home
  • Latest News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
    • Blockchain News
    • Doge News
    • NFT News
    • Video
    • Market Analysis
    • Business
    • Finance
    • Politics
    • Mining
    • Regulation
    • Technology
  • Top 10 Cryptos
  • Market Cap List
  • IC DAO
  • Donations
  • Contact
  • Buy Crypto
  • IC DAO

© Copyright 2024 InvestInCryptoNews.com

This website is using cookies to improve the user-friendliness. You agree by using the website further.

Privacy policy
bitcoin
Bitcoin (BTC) $ 62,678.00
ethereum
Ethereum (ETH) $ 1,670.70
tether
Tether (USDT) $ 0.998707
bnb
BNB (BNB) $ 576.61
usd-coin
USDC (USDC) $ 0.999769
xrp
XRP (XRP) $ 1.10
solana
Solana (SOL) $ 69.36
tron
TRON (TRX) $ 0.330403
figure-heloc
Figure Heloc (FIGR_HELOC) $ 1.03
staked-ether
Lido Staked Ether (STETH) $ 2,265.05

Pin It on Pinterest

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?