Georgia is becoming the most favorite place for crypto miners, know what is the reason

China has been cracking down on crypto mining for some time now. Not only this, many reports have claimed that Russia is also considering banning crypto mining. This may be the reason why America has now become the preferred destination for crypto miners. A media report states that hundreds to thousands of mining machines worth billions of dollars are being installed in the country, which are drawing electricity through the electricity grid. While on the one hand many states are focusing on making profits through the taxes collected from this business, on the other hand some are taking a cautious approach about the use of electricity and environmental impact. Georgia appears to be at the fore among the states making profits from the mining business.

Fortune’s Latest Report shows that Georgia is emerging as the preferred destination for miners. The report, citing data from Foundry USA, a cryptocurrency company that also runs the world’s largest mining pool, showed that Georgia used more than 34% of the total percentage of the pool’s computing power as of January 31. Which is almost double from the third quarter of last year.

Reports suggest that Georgia has attracted miners because of its low electricity prices and the availability of large amounts of nuclear and solar power. Even so, for some time now, many experts have been calling cryptocurrency mining bad for the environment, and cheap and clean energy will give mining companies a chance to project their image as a sustainable or emission-free brand to regulators.

Even the regulators in Geogia have not bound the miners to the laws. He has directed miners in the state to a special solar program, which gives companies the opportunity to convert their emissions into renewable energy credits. Perhaps this is the reason why Bitmain Technologies Ltd. announced in September that the company was bringing 56,000 more miners to the state.<!–


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