Crypto tears: Bitcoin miners face blame for Abkhazia energy crisis

A cryptocurrency mining computer is seen in front of bitcoin logo. With a population of about 240,000, Abkhazia has seen at least 625 crypto farms set up in just the past few years, according to estimates from its economy ministry. — Reuters

TBILISI: As bitcoin surged to record highs last month, Inal’s heart sank.

The unemployed 30-year-old had spent his savings setting up a system to generate the cryptocurrency last summer, but rolling blackouts and a police crackdown in his native Abkhazia forced him to pull the plug early, missing out on a potential fortune.