Ambit Takes Advantage of the Georgia Crypto Heaven
It is no news that Georgia is one of the countries in the world that is the best for cryptocurrency lovers, especially cryptocurrency miners. There are lesser restrictions and regulations to the use of cryptocurrencies, and Tbilisi, the capital city may just be the perfect place to own a cryptocurrency mining farm. Apart from the lack of restrictions to the use of cryptocurrencies, another reason why cryptocurrency miners love Georgia is the access they have to cheap electricity, and its mild climate which is suitable for generating renewable energy.
There are many encouraging reasons why everyone wants to go to Georgia to enjoy their cryptocurrency business, it’s a country for green energy, and that alone is enough for so many other businesses to want to begin their startup there. Strategically located at the crossroads of trade and commerce between East and West, Georgia is ideally positioned to access markets of Asia, Middle East, as well as Europe and the CIS countries. Nowadays Georgia is quickly adopting blockchain technologies, it is the first country to secure land titles on the Bitcoin blockchain, there are around 60 thousand ATM’s were you can buy BTC and other major cryptocurrencies. There has been a rapid rise in producing Hydropower energy, which resulted in one of the most competitive electricity prices as cheap as $0.05 KW/h. The low energy price encouraged people to start mining in Georgia and the country quickly became one of the biggest producers of Bitcoin.
Georgia has become a global center where industrial-scale mining thrives, more large mining companies are getting set up every day, soon, Georgia may outshine China in its bitcoin and other cryptocurrency usage. Georgia is a country where cryptocurrency is backed by the government, this is the reason why on several occasions, the government has allocated hectares of land for the setting up mining farms, however the allocations do not come without a price. While the companies enjoy certain privileges from the government, one way or the other, the government has a way of getting their money back. However, after a while the government declared the territories where the mining farms were situated a free industrial zone, and what the zone does is make the conditions and regulations simple enough to adhere to while doing business in a simplified manner. Companies like Ambit that operate in the free industrial zone are excluded from value added tax (VAT), including property taxes and corporate income. Ambit is also exempt from making Value Added Tax payments when electrical power is being bought, and this makes it about 18% cheaper for the mining farms. It is very obvious that the environment in Georgia is very favorable for the growth of cryptocurrencies , because rather than use paid electrical power, mining companies have the option of going green and using renewable energy to power the facilities, which reduces a lot of cost, while still keeping the ecosystem clean and healthy. The revolutionary company called Ambit knew the advantages, and how attractive the opportunity could become.
The Ambit mining farm is located in the Tbilisi Free Industrial Zone; the location makes it possible for the company to operate safely amidst favorable government regulations. The area is highly secure with security personnel operating 24/7, and access is only granted to authorize personnel.