Kosovo Bans Cryptocurrency Mining Over Electricity Shortage By DailyCoin



Kosovo Bans Cryptocurrency Mining Over Electricity Shortage

Kosovo has prohibited the mining of cryptocurrencies in the nation due to energy blackouts. the eastern European country has been in a state of emergency since December as cold weather affected the country’s power plants. As a result of the shortage, businesses and households have faced blackouts, and the government has had to import additional energy to meet the state’s needs.

Kosovo’s Minister of Economy, Artane Rizvanolli, wrote a Facebook (NASDAQ:) post addressing the problematic situation faced by the country. According to Rizvanolli, the restrictions on mining crypto in Kosovo will tackle both the short and long-term shortages regarding their capacity to produce energy.

The blackouts have given rise to country-wide protests and calls for Rizvanolli’s resignation.

Electricity prices have increased across the entirety of Europe for a number of reasons, yet Kosovo was perhaps hit the hardest. One of the contributing factors for why prices skyrocketed lies in its geopolitical conflict with Russia, which is among the largest gas suppliers for Europe.

On the Flipside

  • Mining cryptocurrency requires vast sums of electricity, and has been cause for many concerns. This fact alone poses a threat to the future of crypto.
  • Other countries to have blocked crypto mining are China, Iran, Iceland, and Sweden, with Norway also considering the option of banning it.

EMAIL NEWSLETTER

Join to get the flipside of crypto

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7]
You can always unsubscribe with just 1 click.

Continue reading on DailyCoin

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link


Kosovo Bans Cryptocurrency Mining Over Electricity Shortage

Kosovo has prohibited the mining of cryptocurrencies in the nation due to energy blackouts. the eastern European country has been in a state of emergency since December as cold weather affected the country’s power plants. As a result of the shortage, businesses and households have faced blackouts, and the government has had to import additional energy to meet the state’s needs.

Kosovo’s Minister of Economy, Artane Rizvanolli, wrote a Facebook (NASDAQ:) post addressing the problematic situation faced by the country. According to Rizvanolli, the restrictions on mining crypto in Kosovo will tackle both the short and long-term shortages regarding their capacity to produce energy.

The blackouts have given rise to country-wide protests and calls for Rizvanolli’s resignation.

Electricity prices have increased across the entirety of Europe for a number of reasons, yet Kosovo was perhaps hit the hardest. One of the contributing factors for why prices skyrocketed lies in its geopolitical conflict with Russia, which is among the largest gas suppliers for Europe.

On the Flipside

  • Mining cryptocurrency requires vast sums of electricity, and has been cause for many concerns. This fact alone poses a threat to the future of crypto.
  • Other countries to have blocked crypto mining are China, Iran, Iceland, and Sweden, with Norway also considering the option of banning it.

EMAIL NEWSLETTER

Join to get the flipside of crypto

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7]
You can always unsubscribe with just 1 click.

Continue reading on DailyCoin

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add a Comment

Your email address will not be published. Required fields are marked *