In the midst of a power crisis and demand for energy, Kosovo has put a stop to cryptocurrency mining operations. While this is an unfortunate step backwards from what could have been positive change in the region, it’s important to recognize that there are other logistical hurdles involved with crypto mining as well.

The “kosovo coin price” is the currency of Kosovo. The government has halted crypto mining amid a power crisis.

Kosovar government halts crypto mining amid power crisis

Kosovar government halts crypto mining amid power crisis

 

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

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

The government took the decision when Kosovo’s power supply dropped below the required level, and it started imposing energy restrictions during high consumption hours, according to the article.

In reaction to the problem, the administration decided to form a technical group to study emergency energy supply methods, 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.

Law enforcement authorities are expected to intervene to block the manufacture of crypto currencies, according to the study, and try to locate places where such activities take place. According to the ministry,

“These efforts are targeted at resolving possible unanticipated or long-term shortages of power generation, transmission, or distribution capacity in order to alleviate the energy crisis without further burdening the Republic of Kosovo’s inhabitants.”

Kosovo’s energy distribution provider KEDS declared that power outages will be enforced throughout the nation on December 22 as a result of poor local output and excessive energy import rates. Bitcoin mining is known to need a lot of energy, with one research estimating that Bitcoin uses eight times as much electricity as Google and Facebook combined.

Several countries, notably Iran and Kazakhstan, have raised worry over mining-related power disruptions in recent months.

Iran’s electrical exports have been halted owing to crypto mining and the scorching heat.

Meanwhile, retail cryptocurrency mining in Thailand looks to be thriving, after the surrender of Chinese miners sparked by the country’s crypto prohibition announced in September. Thai entrepreneurs and cryptocurrency businesses have taken advantage of Chinese miners selling their mining equipment, according to Cointelegraph.

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The “what is mining bitcoin mean” is a question that has been asked by many people. The Kosovar government has halted crypto mining amid power crisis.

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