Cryptocurrency News

Abkhazia closes 8 crypto farms amid ongoing mining crackdown – Mining Bitcoin News

Authorities in the partially recognized South Caucasus Republic of Abkhazia discovered and closed eight crypto mining farms in just two weeks. Since early June, law enforcement agents have disconnected more than 300 mining equipment from the grid and fined one operator.

More than 300 mining rigs cut off power supply in Abkhazia

Between June 1 and June 14, police in Abkhazia found eight cryptocurrency mining facilities operating in violation of the country’s ban on digital coin mining. Law enforcement agents have disconnected about 350 units of mining hardware from the power grid.

Raids have been carried out by the Ministry of the Interior and local police officials in several areas of the South Caucasian Republic. Three illegal mining farms are located in the capital city of Sukhumi, where law enforcement agents have shut down 17 mining rigs and imposed administrative penalties on their owners.

Another three facilities were discovered in Gudauta district, where police officers pulled the plug on 128 mining equipment. Crypto miners have been sealed, the ministry announced in a Press release Published on their website this week.

Largest crypto mining farm discovered in Gali area

The largest cryptocurrency farm was located in the Gali district. There were 184 mining rigs operating in this facility. Representatives of the local electricity distribution company estimated that they consumed 170 kWh of electricity and fined the operator 408,000 Russian rubles (about $5,660). The mining farm has been disconnected from the grid.

During inspections carried out in the Gagra district, Abkhaz officials discovered 17 other coin minting devices that have burned an estimated 28.5 kW of electrical energy. Those rigs have also been closed and sealed.

Georgia Interior Ministry broken republic Mining performs daily checks to identify cryptocurrency features, defying the latest regulations in the field. Earlier this year, the government in Sukhumik extended guideline Temporary ban on cryptocurrency mining until March 31, 2022. Heavy fines and criminal liability were also introduced for the illegal use of electrical power to carry digital currencies.

The sanctions were initially imposed in late 2018, when a spike in mining activity left the Russia-backed de facto state facing an energy crisis. At the beginning of 2019, Chernomorenergo utility of Abkhazia shut down 15 mining farms with a total power capacity of 8,950 kW, claiming that this would be a temporary measure.

In addition to the ongoing discoveries of new crypto farms in operation, the Ministry of the Interior of the partially recognized republic is also regularly checking previously closed mining farms. Police officers have visited 89 such facilities this month.

What are your thoughts on the ongoing crackdown on crypto mining in Abkhazia? Tell us in the comments section below.

Tags in this story

abkhaziahandjob banhandjob intakehandjob actionhandjob cryptohandjob crypto farmhandjob crypto mininghandjob Lightninghandjob interior Ministryhandjob measureshandjob mining equipmenthandjob mining farmhandjob mining rigshandjob policehandjob Powerhandjob republichandjob banhandjob Russiahandjob South Caucasushandjob Statehandjob sukhumi

image credit: Shutterstock, Pixabay, WikiCommons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell any products, services, or companies, or a recommendation or endorsement of any products, services or companies. does not provide investment, tax, legal, or accounting advice. Neither the Company nor the author is responsible, directly or indirectly, for any damage or loss alleged to be caused by or in connection with the use or reliance on any materials, goods or services mentioned in this article.

Source link

Avinash is a blogger, Enterprenuer, marketer and author. He is very good affiliate marketer and Product Reviewer.