Artane Rizvanolli, the Minister of Economy of Kosovo, has imposed a ban on crypto mining due to the power constraints on the state during the winter season. It was followed with a recommendation from the Technical Committee of the Emergency Measures for Energy Supply as per different reports by the Gazeta Express, a local outlet in Kosovo.
According to the reports, the government made this decision only after the power supply fell below the stipulated level resulting in electricity cuts during the peak hours. According to Rizvanolli, the committee is working towards establishing different supply strategies to combat such power cuts. Based on the committee’s recommendations, they imposed a halt in crypto mining throughout Kosovo’s borders.
According to the reports, the border force will hunt for locations where crypto operations will still be taking place even after the halt. According to them, this halt was only due to the sudden long-term electricity cuts, the shortage of power by the electricity production capacities, and the distribution of the energies.
Due to the meager domestic production and high energy import charges, KEDs, the energy distribution firm in Kosovo, announced that the power outages could be implemented across the country on December 22, 2021. As per a few reports, BTC mining consumes an 8x higher power supply compared to both Google and Facebook combined. This is why, in recent months, the nation has witnessed many power outages, including Iran and Kazakhstan.
On the other hand, the Chinese miners were highly triggered by this ban imposition as most of them were readily relocating after the ban in their nation for cryptocurrency mining. However, Thailand is striving in the market, which the Thai entrepreneurs are taking ample leverage in recent times.