BAKU, Azerbaijan, April 19. Cryptocurrency mining companies in Georgia from January through March 2022 consumed 155.3 million kWh, which is an increase of 67.3 percent, compared to 92.8 million kWh over the same period of 2021, Trend reports via Georgia’s Electricity Market Operator (ESCO).
In particular, the data center of the BFDC Georgia, the subsidiary of Bitfury, consumed a total of 98.5 million kWh of electricity in the reporting period 2022 - an increase of 15 percent, compared to the same period of 2021 (85.6 million kWh).
The Geo Meintinans mining company consumed 4.88 million kWh over the first quarter of 2022, which is a decrease of 1.8 percent, compared to 4.97 kWh over the same period of 2021.
The IT Lab company consumed 34.7 million kWh from January through March 2022, while over the same period of 2021 there is no activity on the company’s electricity consumption.
The electricity consumption of the Data Hub company in the reporting period of 2022 amounted to 17.3 million kWh, which is an increase of 652 percent, compared to 2.3 million kWh over the first quarter of 2021.
Meanwhile, recently, Georgia has suggested the FTX Crypto Derivatives Exchange consider expanding its regional office or customer service in the country.
Also, the National Bank of Georgia (NBG), taking into account the risks of money laundering, plans to adopt certain regulations for cryptocurrency trading platforms.
Commercial category mining is becoming more and more difficult in the world, Georgia is no exception. Home-based mining is most common in the Mestia district, where citizens do not pay electricity bills, which is why underground mining is a significant problem in the region.
---
Follow the author on Twitter: @mariiiakhm