Sunday, December 10, 2023

Georgian residents were forced to take an oath promising not to mine cryptocurrency

Cryptocurrency mining remains one of the most controversial activities with respect to the crypto ecosystem. Environmental activists have spoken against crypto mining time and again. Even the staunchest supporter of the Bitcoin network cannot deny the harmful environmental effects of Bitcoin mining. The process uses up a lot of computational power to solve complex cryptographic puzzles.

It is estimated that the total energy requirement of the Bitcoin network could power a US household for 62.5 days. As a result, many countries have discouraged Bitcoin mining, and some have gone to the extent of banning the activity. When China imposed a blanket ban on all cryptocurrencies, it cited the harmful environmental effects of Bitcoin mining as one of the main reasons. Very recently, Kosovo declared Bitcoin mining illegal and the police seized hundreds of mining equipment. Georgia took a different route. Instead of banning, the country made its citizens take an oath to never mine Bitcoin.

Georgia is one of the few Christian countries in the world. Everyday activities in the country are heavily dependent on religious practices and norms. Residents of Georgian town Svaneti were made to take a holy oath, promising that they would engage in Bitcoin mining. The power grids in Georgia have come under huge pressure lately due to Bitcoin mining energy demand. Instead of taking the legal route, Georgia has chosen to appeal to people’s beliefs. However, skeptics are of the opinion that such a move would not work in the long term. As of now, Georgian citizens are under the holy oath to not mine Bitcoins.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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