The Kosovar federal government apparently imposed a restriction on cryptocurrency mining in an effort to suppress electrical energy usage throughout the coldest months of the year. The nation, like numerous others in Europe, faces an energy crisis brought on by the sharp rate boost of electrical energy.
Another Country to Halt Crypto Mining
The little Balkan state– Kosovo– has actually been dealing with power scarcities throughout the last number of months as the weather condition in Eastern Europe began cooling down.
Attempting to fix the concerns, the city government has actually just recently developed a Technical Committee to examine emergency situation steps for energy supply. Based on the firm’s suggestion, Artane Rizvanolli– Kosovo’s Economy and Energy Minister– stopped all cryptocurrency undertakings on the nation’s area, the news outlet Gazeta Express reported.
“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,” the legislator stated.
A couple of weeks earlier, the authorities stated a state of emergency situation for the next 2 months permitting the nation to designate more funds for energy imports and enforce difficult limitations on power use.
Kosovo produces the majority of its electrical energy from coal-fired power plants. Despite the current rate boost throughout the entire continent, the country still supplies among the most economical energy expenses in Europe, making it an appealing location for cryptocurrency miners.
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Iran with The Same Move
At completion of in 2015, the Iranian Ministry of Energy likewise purchased regional licensed cryptocurrency miners to suspend their activities momentarily. Similar to Kosovo, the authorities discussed that the relocation is essential because electrical energy scarcities are not missing throughout the cold weather.
“The Energy Ministry has been implementing measures since last month to reduce the use of liquid fuels in power plants, including cutting licensed crypto farms’ power supply, turning off lampposts in less risky areas, and stringent supervision of consumption,” Mostafa Rajabi Mashhadi– Tavanir’s Chairman specified.
Interestingly, the Iranian federal government imposed the very same restriction throughout the most popular months of 2021, too. Last May, it blamed bitcoin mining for electrical energy blackouts, which apparently interfered with the country’s energy network. Following that, the authorities stopped all cryptocurrency mining undertakings for a duration of 4 months.
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