Analysis: Georgia ranks among the third largest bitcoin mining country in the world

According to the Business Daily report of the BBC Sounds podcast, Georgia has become the third largest bitcoin mining country in the world, second only to China and Venezuela. According to the report, although bitcoin mining has led to the depletion of traditional grid resources in Georgia, the country still has abundant hydropower resources. In addition, it is reported that only BitFury's Bitcoin mine has “swallowed up” 4% of the country's electricity (more than 389 million kWh), while all of the country's bitcoin mining consumes 10% of its total energy. According to the International Energy Agency (IEA), more than 80% of Georgia's energy comes from hydropower, so power resources are still abundant.