Illegal kryptonie mining is booming in the Republic of Abkhazia


In the Republic of Abkhazia there is an increase in kryptomone mining activities, despite the fact that kryptomone related activities are illegal since 2018. Customs has reported that more than $589,000 worth of mining hardware has crossed the border in the last six months.

According to Nuzhnaya Gazeta, the import of crypto-currency mining platforms is still legally permitted. Importers must pay taxes equivalent to 1% of the value of the equipment and a VAT of 10%.

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The largely unrecognized South Caucasus state, considered by several countries to be an „autonomous republic“ of Georgia, claims to have earned more than $84,100 in taxes on imports of crypto-mining platforms alone, since early 2020.

Catching illegal cryptomakers

Guram Inapshba, the head of the national customs committee, declared that they allow imports to „hunt“ illegal cryptomers.

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Inapshba clarifies that there are no Corona Millionaire foreigners within the country who direct or finance cryptomining activities, but says that there are „several dozen citizens“ of Abkhazia involved in the imports.

In December 2018, the government banned all cryptomining activities, citing a lack of capacity in the country’s electricity system. It also noted the need to provide „priority energy supply to the population of Abkhazia“.

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Recently, the Bolivarian National Guard in Puerto Ordaz, Venezuela, seized 315 Bitcoin mining machines (BTC) manufactured by Bitmain. The owners of the mining platforms were told that they did not have the necessary permits to own and operate the machines.