Category - Crypto Mining

Kosovo has banned the mining

Kosovo has banned the mining of cryptocurrencies in an effort to curb energy consumption to mitigate the effects of the European energy crisis. In a statement on Facebook, Kosovo Economy Minister Artane Rizvanolli said the ban is intended to address both short- and long-term energy shortages to protect the country’s economy.

Along with the ban, the government will also allocate resources to identify cryptocurrency mining sites, Rizvanolli said.

The eastern European country has been in a state of emergency since December, as cold weather has knocked out local power plants and forced the government to import more energy than usual due to shortages. The energy shortage has reportedly left many businesses and households facing power outages and rising electricity bills.

The measures, which went into effect last week, were taken based on recommendations from the government’s Technical Committee on Emergency Energy Measures.

Pakistan builds two pilot crypto mining companies

A Pakistani province plans to establish two pilot hydropower-powered mining farms to further the adoption of cryptocurrencies.

According to a Reuters report, Pakistan’s Khyber Pakhtunkhwa province plans to build two pilot hydropower-powered cryptocurrency mining farms. While the report does not specify that the farms would mine Bitcoin particularly, the ongoing bull market in the Bitcoin price, the growing institutional acceptance of the asset and the overall market dominance of BTC would all indicate that they would.

While the cost of construction remains unknown, a senior government official, Zia Ullah Bangash, who is a provincial government advisor on science and technology, said:

“We’ve been approached by people who want to invest, and we want them to come to Khyber Pakhtunkhwa, make some money, and for the province to make money from it as well.”

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