Kosovo, which has been experiencing an energy crisis for a while, has banned cryptocurrency mining operations in the country. Countries like China and Iran have also restricted cryptocurrency mining before.
Kosovo’s largest coal-fired power plantwas closed last month due to a technical problem, and as a result, the government had to buy electricity from outside at a very high price. Following this event, the government declared a 60-day state of emergency in December and used energy to allocate a larger budget to energy imports. restrictive decided to take measures; had begun to implement alternate cuts across the country. While the power cuts caused mass demonstrations, the people of Kosovo called on the country’s Minister of Economy, Artane Rizvanolli, to resign.
Thereupon, Rizvanolli, the government; as a precaution to reduce these negative effects caused by the global energy crisis. cryptocurrency miningannounced that it was banned. Within the framework of this decision, authorized security forces will detect crypto money mining resources and stop these activities.
Last month, Kosovo bought 40 percent of its electricity from abroad.
Until very recently, Kosovo was cheapest It was proud of being the country where electricity is used. Due to the cheapness of electricity, many young people from Kosovo started mining cryptocurrencies. However, as many of you will know, it has very powerful computer networks specially tuned to mine cryptocurrencies and serious sizes to run these networks. to electricity there is need.
This means that the mining of cryptocurrencies, especially at a time when there is a shortage of energy and the country has to supply electricity from outside, makes the country more to the loss means to enter. Last month, officials reported that energy consumption in Kosovo 40 percent announced that it was purchased from abroad with a large proportion. In addition, the deepening of the energy crisis in Europe as a result of the increase in energy prices, the decrease in Russia’s supply and the need for natural gas in economies trying to recover after the COVID-19 epidemic affected Kosovo more than many other countries.
Kosovo is not the only country taking action against cryptocurrency mining
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On the other hand, Kosovo is not the only country to ban cryptocurrency mining. Due to the negative impact of the cryptocurrency mining process on the environment, they have been among them before. Chinese and IranianSome countries, including , have made regulations restricting this process; Many countries have also called for regulations to be made. Iran, which banned cryptocurrency mining for 4 months last year; daily basis of this process from the national electricity grid. 2 gigawattsHe noted that he consumed more electricity than