The World Digital Mining Summit (WDMS) has concluded in Tbilisi, Georgia, with most attendees calling it a huge success. The event, organized by BitKan and Bitmain, drew over a thousand participants — many of whom traveled long distances just to see what’s going on in the small but crypto-friendly country.

This is a sponsored article with information provided by BitKan

Georgia has historically been a pivotal nation, at the edge of both Europe and Asia. So it was interesting to see the mix of business cultures representing the cryptocurrency industry today — the Russian and central Asian region, China, and further abroad.

Among some of the themes covered in presentations on the final day were:
- ROI Revealed: The Single Best Investment A Miner Can Make, by Sean Walsh, CEO of Hyperblock;
- Mining Opportunities in North America, by Sue Wang, CEO & Founder of Mining Master;
- Platforms for Large Scale Mining in Russia, by Kirill Orekhov, Business Development Director, En+ Group;
- Large Scale Mining Data Centers in Siberia by Igor Runets, CEO of Bitriver Limited;
- A Holistic Approach to Developing a Prosperous and Transparent Future, by Beqa Avaliani, CEO of BIRTVI.

The scope of central Asia’s growing mining industry was on full display with exhibitors from Georgia, Russia, Kazakhstan and others competing for attention and perhaps new investors. Despite what those in other regions might think, regulation in these countries is currently permissive towards cryptocurrency mining, and operators are confident their facilities don’t face any risk from crime, corruption, or irregular power supply. 

Large companies from outside the region seem to agree, with several setting up large facilities in Georgia.

Other Summit Highlights Show Rewards, Challenges of Mining

The community welcomed new hardware announcements from Bitmain, giving Jihan Wu a huge round of applause when he unveiled the BM1391 7nm ASIC chip. Cloud mining operators like Genesis Mining and Rockminer are also gaining attention despite the generally bearish market.

Genesis Mining CEO Marco Streng said running a cloud mining business in a bear market was tough, but that operators would try to squeeze out every bit of efficiency from their machines as they could, to get an advantage.

As World Digital Mining Summit (WDMS) participants start their long journeys back to China, Japan, the USA and elsewhere, they’re left with a few new issues to ponder — and hopefully a few new solutions as well.

About BitKan

BitKan was founded by four former employees of Huawei Technology in 2012. The startup has rapidly scaled to become one of China’s leading providers of cryptocurrency data and services, with recent expansion into Singapore, Tokyo and Hong Kong.