Kosovo Halts Crypto Mining To Save Electricity

by in Cryptocurrency News

Kosovo crypto mining

The government of the Republic of Kosovo told Bitcoin and other crypto miners to stop activities, while the country faces challenges with electricity.

Related: Bitcoin Hashrate Set a New All-Time High

Kosovo local media Gazeta Express informs that the Minister of Economy, Artane Rizvanolli said that law enforcement suggests identifying locations and cracking down on mining activities. Rizvanolli added that the goal of the rules is to face the possibility of prolonged lack of power production.

For assessment of the situation and the energy supply, the officials formed a Technical Committee.

In December, based on the Committee's advice, the country declared a 60-day state of emergency in order to deal with a power shortage, which started because of the cold weather.

In recent years many young people in Kosovo started to mine crypto due to cheap electricity prices. Mainly, the country's source for electricity is coal-fired power plants. In December, the largest of them was temporarily shut down as there were technical problems. In the created situation, the country has to import power, the price of which is high.

Previously, the Iranian Ministry of Energy suspended crypto mining to save energy.