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Crime and Investigations

Kosovo Authorities Seize Mining Devices in Serb-Dominated Municipality

Kosovo Authorities Seize Mining Devices in Serb-Dominated Municipality

Authorities and police have targeted crypto mining in a Serb-dominated municipality in northern Kosovo, conducting searches and seizing unregistered hardware used to generate virtual currency.

According to reports, Kosovo police confiscated dozens of cryptocurrency mining devices, and unpaid electricity and water invoices in the region exceed €300 million.

According to a spokeswoman for Kosovo’s customs department, officials have seized approximately 700 graphic processing units (GPUs) and 336 high-speed Antminers with an estimated worth of slightly over 167,000 euros between January 1, 2022, and March 31, 2022.

To curb the issue of unremunerated electricity consumption, in 2021 the Kosovo government declared a short-term prohibition on cryptocurrency mining.

Additionally, the authorities have initiated a clampdown on illicitly imported equipment.

READ MORE: Trader With Huge Gains in The Crypto Market Sets His Sight on This Altcoin

These actions can potentially increase tensions in the ethnically split Balkan state, with authorities in Pristina and Belgrade already trading barbs over it.

Meanwhile, the global cryptocurrency mining market is expected to expand significantly, with Precedence Research projecting a CAGR of 12.90% between 2023 and 2032, reaching a value of $7 billion in 2032.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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