Georgia is the 3rd in the World in Bitcoin Mining

Georgia is the 3rd in the World in Bitcoin Mining

access_time2017-12-15 15:02:26

The process of adding transaction records to Bitcoin's public ledger of past transactions or blockchain is called mining.

Over time, mining becomes more and more complex and the consumption of electricity increases.

The increase in energy costs includes  an increase in costs, which is why, in order to optimize costs, it is advisable to locate bitcoin farms in countries with cheap energy.

BitFury company operates in Georgia and is considered one of the world's largest crypto-currency miners. As of the data for 2016, the company accounts for 15% of world bitcoin mining.

The largest player in this market is China because of the cheapness of electricity where the largest bitcoin companies - F2Pool, AntPool, BTCC and BW are operating.

Their farms are buildings filled with a huge amount of equipment which  account for 60% of the world's bitcoin mining.

The second place in the world is occupied by the USA - one of the largest bitcoin producers in the world located in California - 21 Inc.

The company BitFury, founded in Georgia, is one of the world's largest bitcoin and blockchain companies.

 According to the trading platform IQ Option, the rest of the world accounts for 20% of bitcoin producers.


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