Kosovo Power Crisis, Crypto Mining Banned!

Kosovo Power Crisis, Crypto Mining Banned!
  • Kosovo suffers under immense power crisi for the past two months.
  • Government of Kosovo, orders immediate shut down and ban of all crypto mining industries in the nation.
  • Crypto miners in Kosovo are forced to sell out equipment at dead prices.

Yet, another crypto mining fatal disaster surfaces back, completely making the nation ban crypto mining activity completely. Banning crypto mining has now become quite common. On the other side, it has become a big down puller for the crypto industry. China, being once the largest crypto mining industry in the world, has even established a complete ban of Bitcoin (BTC) and crypto mining for the country. 

Many factors construct towards the banning of crypto and BTC mining activities. Upon them, the most vulnerable factor is the electricity power supply availability and pricing. Indeed, the BTC mining is obviously considered the worst, as it is the one which requires the most power supply for production. 

Joining the BTC and crypto mining ban league is now, one of the poorest countries of Southern eastern Europe, Kosovo. Kosovo is actually a small and poor country in Europe. 

Kosovo Ban on BTC & Crypto Mining 

Kosovo being a poor country, it’s obvious that the prices are low. In spite of this, as the electricity prices of Kosovo is the lowest in all of Europe, crypto mining entered effortlessly. As the country has no rules or regulations for the crypto industry for the nation, in recent times Kosovo became a prominent house for crypto and BTC mining. The crypto and BTC mining took over the entire nation at a rapid pace, owing to all these factors. 

Predominantly, Kosovo also started to sell off about 40% of their power supply, importing them to other countries for higher prices. Moreover, crypto mining farms started to drag out more and more electricity too. Due to these factors, slowly for the past few months Kosovo started to face an immense electricity power crisis. 

In fact, in the last few days of 2021, many regions of Kosovo experienced complete blackouts and people took to protest on the streets.

As a result, the government of Kosovo issued immediate orders to completely ban crypto mining and BTC mining. This inturn completely affected the livelihood of most of Kosovo, as all crypto mining farms were forced to be closed. Moreover, people bought heavy expensive mining equipment in loans and debts, foreseeing a brighter future. Finally, the sudden government decisions shattered their dreams and livelihood completely. 

In spite of this, now the social media of Kosovo is on blaze with complete online sell offs of various heavy mining equipment being sold off at extremely low and dead prices.  

A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.