LLC "Georgia Technology Park", owner of "Tbilisi Free Industrial Zone" was sold. The FIZ, located on a land area of 17 hectares near Gldani in Tbilisi, was founded on October 26, 2015 and its main activity was to offer commercial space to technology companies. The FIZ was founded by Bitfury, an offshore-registered technology company that owns an on-site cryptocurrency data center.
Tbilisi Free Industrial Zone was bought by "Zoti Holding". As Soso Nibladze, one of the founders of this company told BMGTV, the company was founded in August last year because of this deal. Due to commercial interests, Nibladze did not talk about the details of the deal.
As it turns out, Bitfury sold the territory of FIZ, but remains as a tenant. The technological company owns a 60 megawatt cryptocurrency data center on-site, however, as Nibladze states, Bitfury's mining process has been suspended at this stage.
The ESCO data proves that mining in Georgia is no longer interesting for Bitfury at this stage. In January-February 2023, the mining companies operating in Georgia reduced the consumption of electricity to a minimum.
Bitfury Georgia consumed 62.5 million kilowatt hours of electricity in the same period of the previous year, while in January-February 2023, the consumption was 0.2 million kilowatt hours, which was 99.6% less compared to the previous year.
