The Republic of Kosovo's government has provoked alarm among crypto miners in the Balkan country by declaring a temporary ban on all crypto mining activity.

According to The Guardian, cryptocurrency miners are selling mining equipment at the lowest possible price in an attempt to recuperate part of their investment following the country's prohibition. As part of emergency steps to address a rising energy crisis, the government ordered late last year an immediate halt on all crypto-mining operations.

According to the article, the country's Facebook and Telegram crypto groups were flooded with posts from miners looking to dispose their rigs at reduced costs.

Kosovo has been an appealing destination for European-based miners because of its vast lignite reserve, low-quality coal, and government subsidies on coal and fuels.

Despite the fact that the restriction is thought to be temporary, crypto miners in the country are either migrating to neighbouring places or panicking and selling their equipment.

In light of chronic energy shortages, Kosovo's economy minister, Dr. Antane Rizvanolli, called the latest ban a "no-brainer."

She stated,

We have allotted 20 million euros to subsidise energy, which will most likely be insufficient, and taxpayers' money will be used to subsidise electricity use. On the other hand, there is crypto-mining, which is a very energy-intensive and unregulated industry.

CryptoKapo, a cryptocurrency investor and administrator of several of the country's online crypto forums, slammed the government's move. The anonymous user claimed that many miners had invested substantial quantities of money in their mining equipment, even taking out loans, and were now being treated unfairly.

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