A Holy Oath to Save Svaneti
In a remarkable twist of fate, residents of Svaneti, a picturesque region in Georgia, have taken a vow to St. George, promising to abandon cryptocurrency mining. This surprising development comes as energy shortages escalate, with locals citing the Bitcoin craze as a primary culprit. After a booming tourism economy from 2000 to 2019, the pandemic hit the region hard, leading many to turn to mining as an income source.
Mining Mania and Its Impact
Before the pandemic, Svaneti thrived on the influx of tourists exploring its breathtaking landscapes. However, with tourism plummeting in 2020, desperate times called for desperate measures. Hundreds of residents jumped on the crypto mining bandwagon, driven by the allure of free electricity in this mountainous area, making it a mining paradise. Yet, the increased activity has severely disrupted the local electrical supply, sparking frustration among the community.
Signs of Unbreakable Bonds
A video surfaced showing miners gathered in a church, pledging their oaths on December 30, 2021. This gesture, steeped in tradition and belief, reflects the community’s commitment to reducing their energy consumption and restoring stability to their power grid. One might say they are mining in the name of St. George now!
Protests and Energy Tariffs
With the rising tensions surrounding energy consumption, residents took to the streets in the town of Mestia, voicing their concerns over energy company Energo Pro’s plans to hike electricity tariffs. The municipality issued a statement at the end of 2021 indicating a staggering 237% increase in energy consumption compared to previous years, leaving them to declare it “unsustainable.”
A Global Reflection
This situation in Svaneti is emblematic of a broader trend worldwide. Regions laden with cheap energy have attracted Bitcoin miners, often to the detriment of local residents. Countries like Kosovo and Kazakhstan have taken drastic measures, including bans on crypto mining, to safeguard their energy grids. Svaneti’s situation serves as a cautionary tale for other communities facing similar dilemmas.
