The Kosovar government came to a decision to halt the crypto mining due to power restrictions.
The Kosovar government has stopped looking for cryptocurrencies in the country due to power restrictions during the winter. According to a report by the local Gazeta Express, the Minister of Economy Kosovar Artane Rizvanoli decided to stop seeking cryptocurrencies on the recommendation of the Technical Committee for Emergency Measures for Energy Supply.
The report noted that the government made the decision after Kosovo's power supply fell below the target and began imposing power cuts during the peak period. According to Rizvanoli, the government has decided to form a technical committee to evaluate the emergency power supply strategy in response to the situation. Based on recommendations made by the commission last week, the government decided to take immediate action, including stopping the search for cryptocurrencies within Kosovo's borders.
The report notes that law enforcement agencies are ready to step in to stop the production of cryptocurrencies and are working to identify places where such operations take place. Minister said: “These measures aim to address potential unforeseen or long-term shortages of power generation, transmission or distribution capacity to address the energy crisis without further burdening the citizens of the Republic of Kosovo.
Due to low domestic production and excessive costs of energy imports, energy company Kosovar KEDS announced that it would impose a nationwide power cut on December 22. Bitcoin mining is known to use a lot of energy, with recent reports claiming that Bitcoin uses eight times more energy than Google and Facebook combined. In recent months, several countries have raised concerns about production-related power outages, including Iran and Kazakhstan. Meanwhile, following the surrender of Chinese miners sparked by the country's cryptocurrency ban in September, retail cryptocurrency mining appears to be booming in Thailand. Thai entrepreneurs and cryptocurrency companies are taking advantage of the fact that Chinese miners are getting rid of their mining equipment.