In the case of power shortages, the Kosovo government bans crypto mining

Kosovo banned encrypted mining on Tuesday to reduce electricity use as the country is mired in its worst energy crisis in a decade due to power outages.

Kosovo bans crypto mining operations

Due to power shortages in winter, the Kosovo government decided to stop cryptocurrency mining in the country.

According to local newspaper ExpressBased on the recommendations of the Technical Committee on Emergency Measures for Energy Supply, Kosovo’s Minister of Economy Artane Rizvanolli decided to ban crypto mining.

The article stated that the government made this decision after Kosovo’s energy supply fell below the required level and began to implement electricity cuts during high usage hours.

It is expected that law enforcement authorities will intervene to stop the manufacture of cryptocurrencies and try to find places where such operations occur.

The Minister of Economy and Energy Artane Rizvanolli said in a statement:

“All law enforcement agencies will cooperate with other relevant agencies to stop the production of this activity, and these agencies will determine the location of the production of cryptocurrency.”

Rizvanolli said that in response to this problem, the government decided to set up a technical committee to evaluate emergency energy supply strategies. Last week, the government decided to take immediate action to respond to the committee’s recommendations, including a ban on crypto mining at the Kosovo border.

BTC/USD still below $50k. Source: TradingView

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winter is here

According to Gazeta Express, the government declared a state of emergency for 60 days in December, allowing it to allocate more funds for energy imports and implement power cuts.

As the cold winter approaches, Russia’s low supply has renewed concerns about energy shortages, causing European natural gas prices to soar by more than 30% on Tuesday.

A miner who requested anonymity and had 40 GPUs (graphics processing unit) told Reuters He spends about 170 Euros a month on electricity and earns about 2,400 Euros from mining every month.

Cryptocurrency mining is becoming more and more popular in northerncrypto kosovo, which is mainly inhabited by Serbians who refuse to pay for electricity because they do not recognize Kosovo’s independence.

This country with a population of 1.8 million now imports more than 40% of its energy, and the demand is great in winter, when residents mainly used electricity for heating.

Energy emergency measures may seem harsh, but they are the result of years of energy problems in Kosovo, which are manifested in power outages across the country and exacerbated by a severe lack of control and economic downturn. Although crypto miners have been able to use low-cost energy, the high electricity consumption of crypto mining is incompatible with a country that is experiencing widespread power outages and the country’s sector that has only recently begun to pay for electricity.

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