The former Soviet Republic of Georgia is positioning itself as one of the leading countries in the cryptos space and is now ranked second in the world for cryptocurrency mining after China. This has been the result of the country’s electricity subsidies and fair regulation.

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Despite its obvious economic benefits, cryptocurrency mining has always been scrutinized by would-be investors because of its huge energy requirements. This actually reduces its value case in other jurisdictions.

The tiny nation of Georgia has, however, reportedly remained attractive for mining because of its electricity subsidies with some regions that already have lower rates for electricity like the Alazani Valley attracting a lot more mining activity. The country also relies on cheap hydropower.  Read more...