Moldova Bans Digital Asset Mining Amid Energy Crisis Caused By Ukraine War

The government of Moldova has decided to suspend digital asset mining activities in the nation as it’s facing a key energy crisis. The latest move by the government is part of emergency measures to lessen power consumption with energy supplies reducing due to the soaring dispute in neighboring Ukraine.

The nation’s government took steps this week to curtail electricity consumption, including imposing an absolute prohibition on the extraction of virtual currencies.

The ban comes after Moldovan President Maia Sandu urged ministers to introduce limitations to save power during a meeting of the Eastern European nation’s Security Council. Digital asset miners are among the 1st sufferers of the cuts, regardless of their industry not being a crucial consumer.

Deputy Prime Minister Andrei Spînu took to Telegram earlier to notify about the anticipated electricity shortages, criticizing Russian air strikes on Ukraine’s energy infrastructure and decreased natural gas supplies by Russia’s energy giant Gazprom.

The authorities in Chișinău also advocated that Moldovans decrease electricity consumption by using elevators less often, particularly during peak hours, and curbing the lighting of commercial building facades and billboards. Furthermore, local governments have been instructed to lessen street lighting as well.