BitFury has a huge Bitcoin mine north of Tbilisi, tempted to go and photograph it. Could be fun to see the sheer scale of mining now, so different to back when I mined with a laptop; now we have data centres swallowing up massive amounts of energy.
You are viewing a single comment's thread from:
Is it profitable to so it in Georgia when you compare rates vs electricity price?
Is Georgia government for or against crypto mining?
I guess they're all for it. There's a lot of ATMs here and various offices for little exchanges and such. I'm not sure how bitfury are profitable here. Running the AC in summer produces quite the monthly bill. Perhaps they have some sort of agreement with the companies.
Infrastructure is also really poor here, a lot of power cuts. So that makes me think they might be connected to their own grid to maintain 100% uptime.
Yeah many aspcets ofc. But sounds like they arent against it either way.
Just heard that Kazakstan went superhard into btc mining.
I think there's also the fact that Georgia offers a very enticing 1% tax to companies that register here. So even if the energy cost has increased, they save a nice amount by operating here.
Yea, Bitcoin mining scaled up to incredible levels
I still have my old Gridseed ASICs that do 10Gh/s each. I got curious earlier and looked up what the norm is today and they're absolutely huge machines. They even sell configs that cost 100k+ each. Insanity.