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Georgia reveals list of largest companies engaged in production of cryptocurrencies

Oil&Gas Materials 29 January 2021 17:13
Georgia reveals list of largest companies engaged in production of cryptocurrencies

BAKU, Azerbaijan, Jan. 29

By Tamilla Mammadova – Trend:

Most of the private companies in Georgia receive electricity from Telasi or Energo-Pro Georgia, Trend reports citing the Georgian National Statistics Office (Geostat).

However, 16 large companies have the status of "direct customers" and they receive electricity avoiding "Telasi" and "Energo-Pro".

The report of the state company ESCO notes, that Georgian Manganese consumes the most electricity among the companies. The company’s consumption amounted to 1.01 billion kilowatt hours last year. This volume amounts to 8.3 percent of Georgia's total consumption.

The list of largest consumers includes other metallurgical plants, as well as companies engaged in the production of cryptocurrencies.

1. "Georgian Manganese" - 1.01 billion kWh;
2. "Rustavi Azot”- 266.1 million kWh;
3. "HeidelbergCement Georgia" - 201.4 million kWh;
4. "Georgian Water and Power" - 177.8 million kWh;
5. "Rustavi Steel" - 171.5 million kWh;
6. BFDC (Bitfury Georgia) - 131.7 million kWh;
7. "Geosteel" - 103.6 million kWh;
8. "ChiaturManganum Georgia" - 102.3 million kWh;
9. “GTM Group” - 100.3 million kWh;
10. “Rusalloys”- 96.3 million kWh;
11. "RMG Cooper" - 73.7 million kWh.

According to ESCO, BFDS or Bitfury Georgia's electricity consumption in 2020 amounted to 131 million kilowatt hours, which was 403 million kilowatt hours less comparing to 2019. Accordingly, the company reduced its cryptocurrency production capacity in Georgia last year.

As for the total data, in 2020 electricity consumption in Georgia was 4.8 percent down and amounted to 12.17 billion kilowatt hours. The decline in consumption is due to the economic crisis in the country.

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