They dug for free, and now they have lost their equipment. Kosovo has banned cryptocurrency mining

Kosovo authorities have so far confiscated 342 cryptocurrency platforms in raids launched last week. The largest share of them falls on these latest actions, because last Thursday the authorities in Pristina (the capital of Kosovo) announced a total ban on large-scale cryptocurrency mining due to the energy crisis in the winter season.

Out of concern for its taxpayers, Kosovo has banned cryptocurrency mining

In a highly controversial movement with legal uncertainties in the background, Kosovo turned from a paradise for miners into a nightmare and it is hardly surprising. In the country there for two decades, the authorities (people who pay taxes) paid the Serbs’ electricity in the amount of 12 million euros a year, but it has now been decided to change this. Not without a reason, because the miners took advantage of it, stuffing their pockets.

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Recently, the police in Kosovo issued a statement according to which, in recent days, it confiscated as many as 272 devices used to mine cryptocurrencies in the northern (Serbian) part of Kosovo. Apparently, the whole operation took place and ended without incident and now the electrical infrastructure of this small country has been significantly relieved.

The local finance minister indicated that the current estimated monthly consumption of mining equipment is equivalent to the electricity consumed by 500 homes. This gives miners 60,000 to 120,000 euros in income, which is why the government has decided that it will not “allow some to become illegally enriched at the expense of taxpayers” (via Bitcoin).