Select Page

Abkhazia in talks with Russia to supply energy for Bitcoin (BTC) mining

Abkhazia in talks with Russia to supply energy for Bitcoin (BTC) mining
This article is added for educational purpose only. All credit goes to the respected author of this article. All In One Crypto App do not hold any liabilities of this article. You can get the source link at the end of the article content.

The South Caucasus state, Abkhazia revealed that it has been in talks with the Russian government to provide energy for relaunching Bitcoin (BTC) mining in the state. Abkhazia’s Minister of Economy and Deputy Prime Minister, Christina Ozgan spoke at a briefing on Wednesday, about the situation in the energy sector, the measures implemented by the government, electricity tariffs, and mining.

She announced that the government is in negotiations with Russia to supply electricity that would facilitate the BTC miners to set up camp in the region,

“Such a scheme has been worked out. We had representatives from the Russian side who studied the technical supply scheme. At the moment, a draft agreement has been sent to us, which we are working on, ”Ozgan said.

The Electricity Tariff Plan

The government of Abkhazia now aims to legalize crypto mining in the state, after the initial extension of the 2018 mining ban, up to 2022.

Ozgan shared the nitty-gritty of the 2020 extension on the temporary ban; explaining that crypto mining was not criminalized, i.e., it was not prohibited by the law, instead, restrictions on equipment were fastened. She also revealed that the country has seen an import of 66,000 mining rigs before the temporary ban came into effect.

In December 2020, the Cabinet of Ministers announced restrictions and extensions. However, in 2021 the executive branch came up with a legislative initiative to toughen the liability for illegal consumption of electricity in the mining of cryptocurrencies. This initiative was supported by the Parliament. To resolve the problem of mining and the energy crisis, the government has now proposed for miners to begin to pay the latest electricity tariff for cryptocurrency mining.

“a certain tariff plan will be approved, which will determine the time frame for changing the tariff by years within five years. We are already doing preliminary work. There are preliminary calculations. First, there will be a social tariff, most likely in 2022, and then we will completely change the tariff policy, ”said the Minister of Economy.

The post Abkhazia in talks with Russia to supply energy for Bitcoin (BTC) mining appeared first on Coingape.


Source: Coingape


All In One Crypto App presents a unique dynamic crypto course that allows you to become a profitable and successful trader. Download Now

Don't forget to share your review/suggestions for the android app.

All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own here


Select a Sub Category


All In One Crypto App

Made $234 profit with Free Signals from $50

This is the best useful app on my phone. Started trading with $50 and in 5 weeks I was up to $234 just with the free signals. I will recommend it to any new person that wants to try trading crypto. Link to Review

Asoluka Chimdindu

Free User
All In One Crypto App

Good Support

This app is one of the best for crypto currency trading signal for experts and beginal with free and premier with auto follow trading bot all the signal is excellent with accurate technical analysis and fundamental I really like the way they guide and support. Link to Review

olaplus olaplus

Premium User
All In One Crypto App

Accurate Trading Signals

I was premium member of this channel back in 2018 when there was no app. Thr signals were too good, more than 90% accuracy. Now with this app and newly introduced auto trading bot, it will be awesome. Too the moon. Link to Review

Yogesh Patil

Premium member
All In One Crypto App

Awesome and Accurate Signals

Very glad to use this app. The crypto signals was awesome and accurate with detailed explanation and visual information. The admin also helpful and nice. Link to Review

soon cheong

Free User
All In One Crypto App

User Friendly App

Signals are great. I love it. App also friendly to use… Nice job guys Link to Review

Olawunmi Dilureni

Premium Subscriber