• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Nexo Logo

Amid Electricity Shortages, Kosovo Government Places Ban On Crypto Mining

Anifowoshe Ibrahim by Anifowoshe Ibrahim
5 months ago
in Cryptocurrency news
Reading Time: 2 mins read
Advertisement

Kosovo has banned crypto mining on Tuesday in an effort to reduce electricity use as the country grapples with its worst energy crisis in a decade as a result of electricity disruptions.

Kosovo Bans Crypto Mining Operations

Due to electricity shortages during the winter season, the government of Kosovo has decided to stop crypto mining in the country.

According to a report by local newspaper Gazeta Express, Kosovo’s Minister of Economy, Artane Rizvanolli, has decided to ban crypto mining following a recommendation from the Technical Committee on Emergency Measures for Energy Supply.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The government made the decision after Kosovo’s energy supply fell below the required level, and it began imposing electric power cutbacks during high usage hours, according to the article.

Law enforcement authorities are expected to intervene to block the manufacture of crypto currencies, and try to locate places where such operations take place.

Economy and Energy Minister Artane Rizvanolli said in a statement:

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

“All law enforcement agencies will stop the production of this activity in cooperation with other relevant institutions that will identify the locations where there is cryptocurrency production.”

In reaction to the problem, the administration has decided to form a technical committee to evaluate emergency energy supply strategies, according to Rizvanolli. Last week, the government decided to take immediate actions in response to the committee’s recommendations, including prohibiting crypto mining over Kosovo’s borders.

crypto kosovo

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

Related article | Could The New “China Model” Be The Reason The Country Banned Bitcoin Mining?

Winter Is Coming

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

Low supplies from Russia revived fears of an energy shortage as the colder winter approaches, sending European gas prices soaring by more than 30% on Tuesday.

One miner, who requested anonymity and owns 40 GPUs (Graphics Processing Units), told Reuters that he spends roughly 170 euros per month on power and makes around 2,400 euros per month from mining.

Cryptocurrency mining has become more popular in northercrypto kosovo, which is primarily populated by Serbs who refuse to pay power bills because they do not recognize Kosovo’s independence.

The 1.8 million population-strong country now imports more than 40% of its energy, with significant demand in the winter when inhabitants mostly use power for heating.

The energy emergency measures may look draconian, but they are the result of years of energy problems in Kosovo, which have manifested themselves in blackouts across the country and have been aggravated by a severe lack of control and a slumping economy. While crypto miners have been able to take advantage of the low-cost energy, crypto mining’s high electricity usage is incompatible with a country that is experiencing widespread power outages and a sector of the country that has only recently began to pay for its electricity.

Related article | Why Did China Ban Bitcoin Mining? Here Are The Seven Leading Theories

Tags: crypto miningKosovoSerbs
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Anifowoshe Ibrahim

Anifowoshe Ibrahim

Related Posts

Bitcoin Selling Pressure Continues As Long-Term Holder SOPR Spikes Up

Bitcoin Selling Pressure Continues As Long-Term Holder SOPR Spikes Up

4 hours ago
Bitcoin and Ethereum

Exchange Inflows Rock Bitcoin, Ethereum As Market Struggles To Recover

6 hours ago
Ethereum Prepares For Ropsten Testnet Merge As Token Struggles To Hold $2k Support

Ethereum Prepares For Ropsten Testnet Merge As Token Struggles To Hold $2k Support

6 hours ago
Time For Autopsy? Bitcoin May Plunge Further After Dive Below $30k

Time For Autopsy? Bitcoin May Plunge Further After Dive Below $30k

9 hours ago
mining

U.S. Mining Stocks Drop Almost 50% Despite Hashrate Increasing

14 hours ago
Bitcoin

Bitcoin Stable Near $30,000 But The Bearish Leg Is Far From Over

21 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Can Gnox (GNOX) become a crypto giant like Cardano (ADA)?

May 19, 2022

Terra (LUNA) and Binance (BNB) Experienced a Terrible Week While Presale Crypto Chronoly (CRNO) Is Flying High

May 19, 2022

3 Years, 6 Lamborghinis: FreeBitco.in’s “Biggest Giveaway in Crypto” Continues Its Legacy

May 19, 2022

SFUND To Be Listed On The Leading Global Crypto Exchange Huobi Global

May 19, 2022

Diversify your crypto portfolio with Pac-Man Frog (PAC), Monero (XMR), and Aave (AAVE)

May 19, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.