Kosovo Halts Cryptocurrency Mining Amid Energy Crisis – Mining Bitcoin News

As part of its efforts to combat power shortages, the government of Kosovo decided to stop crypto mining in Kosovo. A special committee of parliamentarians charged with bridge the gap between supply and demand for electricity proposed this move.

Authorities ban Crypto Mining in Kosovo to Save Energy

Pristina’s executive has taken steps to end the high-energy minting of digital currency in Kosovo. This is a country that was only partially recognised in Southeast Europe. According to local media, the country has been experiencing electricity shortages over the winter months.

The halting of crypto mining operations was announced on Tuesday by Artane Rizvanolli, Kosovo’s minister of economy. According to her statement quoted by Gazeta Express, the decision was taken at the recommendation of the Technical Committee on “Emergency Measures for Energy Supply” set up by the nation’s legislature.

DTT Net reports that the restrictions were approved by Kosovo’s parliament last week. The increased demand for electricity in the winter months has caused power shortages in Kosovo. Authorities have been trying to solve the problem.

Minister Rizvanolli added that Kosovo’s law enforcement institutions will join the efforts to locate crypto mining facilities and halt the mining of digital currencies. “These actions are aimed at addressing potential unexpected or long term lack of electricity production capacities, capacities of transmission or distribution of energy in order to overcome the energy crisis without further burdening the citizens of the Republic of Kosovo,” she elaborated.

The government declared an emergency for 60 days in December to address the problem of power shortage. This will enable it to import energy and to impose power cut. Kosovo’s energy needs are mostly satisfied by its coal-fired power plants.

Winter is when the demand outstrips the supply, and Kosovo Energy Distribution Systems must compensate with imports. Gazeta express also notes that the worldwide energy crisis has led to a huge increase in international electricity prices.

The popularity of cryptocurrency prices and mining has increased in Kosovo. This is especially true in the predominantly Serb north, where many municipalities haven’t paid any electricity bills in more than 20 years. Earlier this year, Balkan Insight reported that the Albanian-controlled government in Pristina had ordered the country’s public utility to cover these bills for another six months while authorities are trying to find a permanent solution.

Are you positive that Kosovo will permit crypto miners to resume their activities after it has overcome its electricity supply problems? Leave your comments below.

Lubomir Tassav

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.