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
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
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

Clearpool Targets XRP Ledger Credit Market With Token Overhaul

US CPI Data Sparks Risk-Asset Upside as Bitcoin Eyes $80,000 Mark

Nasdaq’s Biggest HYPE Holder Just Bought $29M More Tokens at a Loss

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

Clearpool Targets XRP Ledger Credit Market With Token Overhaul

by CryptoExpert
September 12, 2026
0
Clearpool Targets XRP Ledger Credit Market With Token Overhaul

Key TakeawaysClearpool plans to build institutional lending products natively on XRPL.The proposal would replace CPOOL with CLEAR through a 1:1 migration.A treasury recapitalization would fund incentives and XRPL...

Read more

US CPI Data Sparks Risk-Asset Upside as Bitcoin Eyes $80,000 Mark

by CryptoExpert
September 11, 2026
0
Cointelegraph

Bitcoin (BTC) returned to $79,000 on Friday after key US inflation data broadly conformed to expectations.Key points:US core CPI inflation data gained 0.3% month-on-month, surpassing expectations of 0.2%.Implied...

Read more

Nasdaq’s Biggest HYPE Holder Just Bought $29M More Tokens at a Loss

by CryptoExpert
September 11, 2026
0
Nasdaq's Biggest HYPE Holder Just Bought $29M More Tokens at a Loss

Key TakeawaysHyperliquid Strategies has bought 3.029M HYPE for about $252 million over the past two weeks.HYPE is trading near $80 today, below the roughly $83.40 average the firm...

Read more

Liquid Hackers Call Blockstream ‘Delusional, Greedy, and Arrogant,’ Demand 10% Bounty

by CryptoExpert
September 11, 2026
0
How a Bot Gained and Lost Over $1 Million of ETH in One Night

Samson Mow warned the hackers that dreaming of walking away with the remaining assets unscathed is nothing but delusion. The dispute between Blockstream and the party claiming...

Read more

Bitcoin Slips Under $77,000 as High US PPI, Oil Drive Risk Assets Lower

by CryptoExpert
September 10, 2026
0
Cointelegraph

Bitcoin (BTC) dipped below $77,000 around Thursday’s Wall Street open as risk assets faced resurgent macro headwinds.Key points:Bitcoin saw downside on the back of higher-than-expected US PPI inflation...

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

© 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) $ 77,300.00
ethereum
Ethereum (ETH) $ 2,514.17
tether
Tether (USDT) $ 0.999893
bnb
BNB (BNB) $ 730.04
xrp
XRP (XRP) $ 1.36
usd-coin
USDC (USDC) $ 0.999899
solana
Solana (SOL) $ 101.81
tron
TRON (TRX) $ 0.339241
staked-ether
Lido Staked Ether (STETH) $ 2,265.05
figure-heloc
Figure Heloc (FIGR_HELOC) $ 1.03

Pin It on Pinterest

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