Crypto mining temporarily banned in Kosovo due to power shortages
The decision to ban crypto mining was based on recommendations made last week by the Technical Committee on Emergency Measures for Energy Supply.
Thu, 06 Jan 2022, 02:06 am UTC
The Kosovo government had decided to impose a temporary ban on crypto mining activities in the country. The move is aimed at saving energy and as the country faces power shortages during the winter season.
In a statement on Tuesday, Kosovo’s Minister of Economy Artane Rizvanolli has decided to stop crypto mining in the country, according to local news outlet Gazeta Express. The move is part of the government’s efforts to minimize consumption and save power as the country faces power outages due to the increase in power demand during the winter months.
The decision was based on recommendations made last week by the Technical Committee on Emergency Measures for Energy Supply, the publication added. Rizvanolli said that the government established a technical committee to evaluate emergency energy supply strategies in response to the situation.
The committee recommended various energy-saving measures to ease the burden on the nation’s power grid as demand for electricity spiked during the winter season. The government decided to impose the measures, which include the temporary ban on crypto mining within Kosovo’s borders and the imposition of electricity cuts during peak usage periods when the power supply fell below the stipulated level.
“These actions are aimed at addressing potential unexpected or long term lack of electricity production capacities, capacities of transmission or distribution of energy in order to overcome the energy crisis without further burdening the citizens of the Republic of Kosovo,” Rizvanolli explained.
Kosovo’s government declared a state of emergency for the next 60 days in December last year that allowed it to introduce power cuts and allocate funds for energy importation. While the country produces most of its power requirements from coal-fired plants, power demand spikes during the winter season forcing the Kosovo Energy Distribution Systems (KEDS) to import electricity from other countries.
Kosovo isn’t the only country that has temporarily banned crypto mining due to energy supply issues. For instance, Iran banned crypto mining until March 6, 2022, for similar reasons.
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