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Kosovo bans cryptocurrency mining after blackouts:
The government says security services will identify and clamp down on sources of cryptocurrency mining.
The mining is energy intensive and involves verifying digital transactions to get cryptocurrencies as a reward.
While all of Europe faces sharp price rises, Kosovo is enforcing rolling blackouts amid an electricity shortage.
The Balkan state's largest coal-fired power plant was shut down last month over a technical issue, forcing the government to import electricity at high prices.
A 60-day state of emergency, declared in December, gave the government powers to allocate more money for energy imports and impose stricter restrictions on power usage.
The blackouts have sparked protests and calls for the resignation of Economy Minister Artane Rizvanolli.
Energy prices are skyrocketing across Europe for various reasons, including low supplies from Russia and high demand for natural gas as economies recover from the Covid-19 pandemic.
The spike has been fuelled by geopolitical tensions with Russia, which supplies one third of Europe's gas. Russia has rejected European accusations that it has limited gas deliveries while tensions are raised
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(Score: 2) by legont on Sunday January 09, @07:16AM (1 child)
Look at any energy especially energy services index out there. They run after 2000, then crushed in 2008 than bounced and bleed, but in the end we are at 2000 level at this point. Nobody, except perhaps Russians, invested in energy for a fucking generation. Energy is an evil nowadays. It kills the planet... you know the story. It's in the same "rust belt fly over morons" category. Everybody wants into clean green high tech run on unicorns.
Well, I am surprised it survived for 20+ years. Expect high prices, outages, severe shortages and painful 20 years of rebuilding. Forget about Teslas. Research how to make your car run on wood chips.
"Wealth is the relentless enemy of understanding" - John Kenneth Galbraith.
(Score: 0) by Anonymous Coward on Sunday January 09, @02:11PM
you must be a unicorn if you believe this: "Everybody wants into clean green high tech run on unicorns."
everybody and their grandma who think they're smart has invested in fossile energy, be it stocks or bonds, because "hey, we will rely on this shit forever".
take-out food delivery? fossile fuel
smelly flower bouquet door step delivery? fossile fuel
not freezing to death in winter? fossile fuel
10 hour airtravel to paris for overpriced gucci bag shopping spree? fossile fuel
bitcoin mining money for nothing? fossile fuel
gold-digger attractor bugatti veyron? you won't guess it ...