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Georgia punches well above its weight for Bitcoin mining: Report

The tiny population of Georgia is a dark horse for Bitcoin mining, contributing close to 1% of the industry’s total hash rate, according to a report by Arcane research.
At first glance, the pint-sized Republic of Georgia is an unlikely suspect for Bitcoin (BTC) mining activity. An underdog for mining, the country boasts abundant hydropower while ranked seventh worldwide for the World Bank’s ease-of-doing-business index — ahead of the United Kingdom and Germany.Nestled on the Black Sea at the intersection of Europe and Asia, Georgia hosts Bitfury’s industrial mining operations as well as smaller, solo miners that tap into enormous amounts of hydroelectric power. Dutch miner Bitfury’s Bitcoin mining operation at the foot of the Tblisi National Park. Source: NPRThe country packs a punch for Bitcoin mining. While the Cambridge Bitcoin Electricity Consumption Index puts Georgia’s hash rate at 0.18%, a detailed and

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