While China, Iran, and Kazakhstan have used legislative means to prevent or reduce digital currency block reward mining, Georgia has taken a different approach—religion. According to local reports, Georgians have taken a holy oath not to engage in energy-intensive activities.
A nearby retailer Sputnik Georgia was the first to report on the novel strategy used by Georgian authorities as more countries across the world crack down on block reward mining. For China, it was through the use of force, threats, and whistleblowers, but for Iran, it was through the denial of power during peak energy seasons and the deployment of intelligence officials to dig miners out. v
According to Sputnik, Georgia’s Svaneti area in the northern part of the country is turning to religion. According to the site, miners crammed into a church to swear an oath to St. George that they would never mine digital currency again. The oath, taken on December 30, is revered throughout the country and is seen as an unbreakable relationship.
Svaneti is a hilly district in northeastern Georgia recognized for its beautiful scenery and architectural treasures. The region is nearly entirely reliant on tourism. Like many other tourist locations, Svaneti was hit hard by the COVID-19 pandemic, which brought global travel to a halt.
To make a living, the people turned to block reward mining, which has risen significantly in the last year. On the other hand, local authorities have issued a warning about the region’s excessive energy consumption, claiming that it is unsustainable.
Georgia’s Minister of Economy and Sustainable Growth, Natia Turnava, stated a week ago that the government was partnering with power firm Energy Pro to combat illegal mining in the region. According to the report, energy usage increased by 237 percent in 2021 as additional mining farms were built in the area. Last year, residents of Mestia, the region’s capital, staged a protest against the illegal miners.
As the discussion over energy use continues, Bitcoin SV has distinguished itself for its energy efficiency. According to a November research by Canadian business consultancy firm MNP, Bitcoin SV is the most energy-efficient blockchain network, considerably exceeding BTC and BCH.