The Kosovo authorities have seized over 300 cryptocurrency mining devices as a result of several police operations. According to the Minister of Energy and Economy of the country, this seizure will help save “tens and thousands of euros per month.”
Intensification of the Kosovo Ban
Like many European countries, Kosovo is currently facing an energy crisis due to the sharp rise in electricity prices. The government has recently banned cryptocurrency mining in an attempt to reduce winter consumption and alleviate power shortages.
Local law enforcement agencies made the first seizure just a few days after rule was published. A recent announcement states that Kosovo Police and Kosovo Customs carried out a joint operation after which they took 272 “Antminer” Bitcoin mining machines from the municipality of Leposavic.
In a separate operation, authorities also seized 39 additional cryptocurrency mining devices near Prishtina. 35 of these were still operational at the time.
The police stopped a vehicle that was carrying prohibited equipment in the vicinity of Druar. According to police, the driver concealed six crypto mining machines as well as 42 graphics cards (GPUs), in his back seat.
Artane Rizvanolli, Kosovo’s Economy and Energy minister, highlighted the police actions. According to her calculations, confiscations will “tens of thousand of Euros per Month of taxpayers’ money,” which equals energy for hundreds of Kosovar households during the crisis.
Iran enforced the same rules
Iran was another country to temporarily ban cryptocurrency mining. Similar to Kosovo’s decision, Iran’s officials attributed their decision to the increasing electricity consumption in the coldest months.
The Iranian government also enforced the same laws during summer. Crypto mining was prohibited between June and September of last year when temperatures hover around 30-35degC (95degF). Officials were closely monitoring miners’ compliance with the rules.
The police took 7,000 bitcoin mining equipment from an abandoned factory in Tehran, during an operation that began at the start of the summer. This seizure was the biggest ever made by local authorities. In January 2021, nearly 1,500 cryptocurrency mining machines were seized by the government.
Marla Brooks – Financial Analysis
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