Georgia Now A Popular Crypto Mining Location

The small country of Georgia has become one of the top mining locations- attracting miners with cheap electric rates and tax incentives. The country also doesn’t currently have any legislative restrictions on the crypto mining industry.
While Georgia’s economy has not yet reached the magnitude of other developed countries, it has been involved with crypto mining since 2014 with Bitfury launching the first of several data-centers. The country has also been integrating blockchain technology into real-use cases. Georgia was the first country to announce that education credentials would be uploaded to a blockchain - using the Cardano network. No recent local news has been given about this project, but was first announced in March 2020.

The country saw the potential of crypto mining earlier than others, with even 200,000 residents engaged in crypto mining in 2018. There is no income tax for individuals on profits from crypto sales. Institutions and corporations do however still pay some taxes.

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