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The Kosovo government has imposed a ban on cryptocurrency mining in an attempt to cope with the aftermath of the energy crisis.
The Kosovo government has limited electricity consumption and announced a ban on cryptocurrency mining. The low efficiency of coal-fired power plants and high import prices forced the Kosovo authorities to declare a state of emergency for 60 days and cut off the supply of electricity to secondary facilities.
“Law enforcement agencies, in cooperation with relevant institutions, will identify and suppress cryptocurrency mining,” said Artane Rizvanolli, Minister of Economy and Energy, in a statement.
In recent years, thanks to low electricity prices, cryptocurrency mining has become an attractive business for many citizens of Kosovo. For example, according to an anonymous miner, his electricity costs for 40 mining devices average about € 170 per month, while he receives from them up to € 2,400 per month in income.
The situation is aggravated by the fact that the fastest growing cryptocurrency mining is in the north of Kosovo, mainly inhabited by Serbs who do not recognize the state of Kosovo and refuse to pay for electricity.
Earlier, in order to save electricity during the winter period, Iran introduced a ban on cryptocurrency mining. The restrictions will be valid until March 6, 2022.
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