Cryptocurrency adoption and trends in Georgia in 2022
It is estimated that over 115 thousand people, 2.89% of Georgia’s total population, currently own cryptocurrency.
Cryptocurrency mining involves a kind of constant digital bombardment to find these solutions, 24 hours a day, consuming huge amounts of electricity. And thanks to its cheap hydropower and low regulation, Georgia is now ranked second in the world for cryptocurrency mining — behind only China. One Georgian political party has even started raising funds by mining cryptocurrency via the computers of willing supporters. And because electricity has traditionally been more heavily subsidized in the Alazani Valley, wine country has been seeing a kind of digital gold rush.