???? Mining in Svaneti Region

???? Three years ago, approximately 200 Svanetians gathered in Mestia, in St. George's Church and pledged to stop Crypto Mining.

⚡️ It's not surprising, that it was not successful, and as on the 16.01.24, the all-time high for electricity usage was recorded at 500K KWh. Upper Svaneti is a mountainous region of Georgia where electricity is provided free of charge to its residents. This has led to a boom of crypto mining.

????️ Currently, there are approximately 3,000 registered households in the region.
To put this into perspective, according to statistics, the electricity consumption in Upper Svaneti surpasses that of dozens of other municipalities combined. Due to the overwhelming usage of the electricity, incidents frequently occur, leading to shortages and power outages.

???? It is praiseworthy that residents are using such an innovative approach for income. However, current situation of electricity shortage not only affects region's daily life but also poses significant harm to the region's tourism sector, another major contributor to its economy.

©️ David Abashidze