The Kosovar government stops mining cryptocurrencies amid the energy crisis

The Kosovar government has suspended cryptocurrency mining in the country due to electricity restrictions during the winter season.

The Minister of Economy of Kosovo, Artane Rizvanolli has decided to stop mining cryptocurrencies following a recommendation by the Technical Committee for “Emergency Measures for Energy Supply”, according to a statement from local media Gazeta Express.

The note notes that the government made the decision after Kosovo’s electricity supply fell below required levels and began to cut power at peak times.

The Kosovar government stops mining cryptocurrencies amid the energy crisis
The Kosovar government stops mining cryptocurrencies amid the energy crisis

According to Rizvanolli, The government decided to set up a technical committee to evaluate emergency power strategies in response to the situation. Based on the committee’s recommendations last week, the government decided to take immediate action, including stopping cryptocurrency mining in all areas of Kosovo.

The report shows that law enforcement agencies are ready to step in to stop the production of cryptocurrencies and work to identify the places where such operations will be carried out. The minister said:

“These measures aim to address the possible unexpected or long-term shortages of power generation, transmission or distribution capacities in order to overcome the energy crisis without further disturbing the citizens of the Republic of Kosovo”.

As a result of the low domestic production and the exorbitant energy import costs Kosovar power distribution company KEDS has announced that there will be power outages across the country on December 22nd. Bitcoin mining is known to use a lot of energy, and a recent report claims that Bitcoin uses eight times more energy than Google and Facebook combined.

In the past few months, several countries have raised concerns about power outages related to cryptocurrency mining, including Iran and Kazakhstan.

After the surrender of Chinese miners sparked by the country’s cryptocurrency ban announced in September, retail cryptocurrency mining appears to be booming in Thailand. As we told you earlier, Thai entrepreneurs and cryptocurrency companies have taken advantage of the fact that Chinese miners have sold their mining equipment.

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