The Moldovan government has decided to suspend cryptocurrency mining activities in the country as it faces a major energy crisis. The move is part of urgent measures to cut electricity consumption amid dwindling energy supplies due to escalating conflict in neighboring Ukraine.
Moldovan authorities ban bitcoin mining and import of mining hardware to save electricity
Cryptocurrency mining in Moldova is targeted amid an energy crisis that deepens as winter approaches. The country’s government this week took steps to limit electricity consumption, including a complete ban on digital coin extraction.
The ban came after Moldova’s President Maia Sandu urged ministers to introduce restrictions to conserve power during a meeting of the Eastern European Security Council. Despite not being a significant consumer, they are one of the first victims of cutbacks.
Deputy Prime Minister Andrei Spînu previously used Telegram to warm He blamed Russian airstrikes on Ukraine’s energy infrastructure and a reduction in natural gas supplies by Russian energy giant Gazprom for the expected power shortage.
Spinu called on the people of Moldova to act in solidarity and responsibility to avoid blackouts and disruptions. Businesses were asked to turn off advertising and decorative lighting, adjust production hours, and use generators from 7am to 11pm where possible.
On Tuesday, Moldova’s emergency committee approved a number of measures to deal with the energy crisis. In addition to mining itself, it also banned the import of crypto mining equipment. As quoted by the RIA Novosti news agency:
Cryptocurrency mining activities are prohibited, as is the importation of specialized equipment…, regardless of the location of the importing company.
Authorities in Chisinau also advised Moldovans to cut down on electricity consumption by using elevators less frequently, especially during peak hours, and by limiting lighting on commercial building facades and signs. Local governments have also been instructed to reduce street lighting.
Do you think Moldova’s crypto miners will survive the recently introduced energy cuts? Share your thoughts on the matter in the comments section below.
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