Abkhazia launches crackdown on illegal cryptocurrency mining to solve energy crisis
Tweet 
Share
The de-facto Ministry of Internal Affairs of Russian occupied Georgian region of Abkhazia announces that daily monitoring is underway to prevent the operation of cryptocurrency mining farms in Abkhazia, where hundreds of bitcoin mining machines are being turned off every week.
Cryptocurrency mining is currently banned in Abkhazia until June 1, 2021 as the operation of the machines is in part to blame for the region’s energy crisis.
In addition it is prohibited to import the equipment needed to generate cryptocurrency.
TRT World, a Turkish state-owned news channel, reports that in the last few years, Abkhazia has seen at least 625 new crypto farms, which require vast amounts of energy to run, according to estimates from its economy ministry.
In addition, the Enguri HPP, which is the main electricity source for Abkhazia has been shut down for repairs for three months already.
Georgia and its Russian-occupied region Abkhazia jointly operate the hydropower plant and distribute the electricity it generates.
According to an informal agreement between the sides, Abkhazia consumes 40% and Georgia consumes 60%.
Energy projects have not been suspended in Georgia despite the pandemic, said Georgian Economy Minister Natia Turnava today adding that 670 MW worth of hydropower plants have either been put into operation or moved to the construction stage in 2020.
Starting January 20 the Enguri hydro power plant (HPP), the largest electricity producer of Georgia that supplies its Russian-occupied region of Abkhazia, will be closed for repairs for three months.
Georgia will have another big and multifunctional tourist zone at one of the country’s most unique monuments, the Enguri River dam, which will become a "world-class attraction”.
The renovation of the Enguri hydro power plant (HPP), the largest electricity producer in Georgia that also supplies the country’s Russian-occupied region of Abkhazia, is coming to an end and is expected to start producing electricity in early May of this year, announces Georgian Prime Minister Irakli Garibashvili.
The Georgian capital city of Tbilisi has the most number of Bitcoin ATMs in the world per $10 billion local GDP, says a new study titled 'World's Most Crypto-Friendly Cities'.
The renovated Enguri hydro power plant (HPP), the largest electricity producer in Georgia that also supplies the country’s Russian-occupied region of Abkhazia, has started producing electricity today, announces Georgian Economy Minister Natia Turnava.
A massive power cut left almost half of the Georgian capital city of Tbilisi and several regions without electricity today. The Georgian State Electrosystem said that the electricity was cut off after the 500 kWh power transmission line with Imereti was accidently shut off.
‘Bitcoin mining farms are creating an energy crisis in Georgia’s Russia-occupied Abkhazia region’, says the Democracy Research Institute (DRI). DRI notes that even with the completion of the rehabilitation works on the Enguri HPP, the energy crisis could not be improved in Abkhazia due to the bitcoin mining farms.
Georgia's Russian-occupied region of Abkhazia will be using electricity imported from Russia for three months - January, February and March - as the only hydropower plant in the region, the Enguri HPP, has been shut down for repairs.
The Prosecutor's Office of Georgia on Wednesday filed charges against two individuals arrested in connection with robbery of a cryptocurrency exchange office in the capital city of Tbilisi.