diff --git a/module/CLI/src/Command/Visit/ProcessVisitsCommand.php b/module/CLI/src/Command/Visit/ProcessVisitsCommand.php
index 215977d8..8de39651 100644
--- a/module/CLI/src/Command/Visit/ProcessVisitsCommand.php
+++ b/module/CLI/src/Command/Visit/ProcessVisitsCommand.php
@@ -65,7 +65,11 @@ class ProcessVisitsCommand extends Command
             $this->visitService->locateUnlocatedVisits(
                 [$this, 'getGeolocationDataForVisit'],
                 function (VisitLocation $location) use ($output) {
-                    $output->writeln(sprintf(' [<info>Address located at "%s"</info>]', $location->getCountryName()));
+                    if (! $location->isEmpty()) {
+                        $output->writeln(
+                            sprintf(' [<info>Address located at "%s"</info>]', $location->getCountryName())
+                        );
+                    }
                 }
             );
 
diff --git a/module/CLI/test/Command/Visit/ProcessVisitsCommandTest.php b/module/CLI/test/Command/Visit/ProcessVisitsCommandTest.php
index dbb311f2..9c008ed3 100644
--- a/module/CLI/test/Command/Visit/ProcessVisitsCommandTest.php
+++ b/module/CLI/test/Command/Visit/ProcessVisitsCommandTest.php
@@ -116,6 +116,11 @@ class ProcessVisitsCommandTest extends TestCase
 
         $output = $this->commandTester->getDisplay();
         $this->assertStringContainsString($message, $output);
+        if (empty($address)) {
+            $this->assertStringNotContainsString('Processing IP', $output);
+        } else {
+            $this->assertStringContainsString('Processing IP', $output);
+        }
         $locateVisits->shouldHaveBeenCalledOnce();
         $resolveIpLocation->shouldNotHaveBeenCalled();
     }
diff --git a/module/Core/src/Entity/VisitLocation.php b/module/Core/src/Entity/VisitLocation.php
index b8376c01..fad9c986 100644
--- a/module/Core/src/Entity/VisitLocation.php
+++ b/module/Core/src/Entity/VisitLocation.php
@@ -72,4 +72,16 @@ class VisitLocation extends AbstractEntity implements VisitLocationInterface
             'timezone' => $this->timezone,
         ];
     }
+
+    public function isEmpty(): bool
+    {
+        return
+            $this->countryCode === '' &&
+            $this->countryName === '' &&
+            $this->regionName === '' &&
+            $this->cityName === '' &&
+            ((float) $this->latitude) === 0.0 &&
+            ((float) $this->longitude) === 0.0 &&
+            $this->timezone === '';
+    }
 }
diff --git a/module/Core/test/Exception/IpCannotBeLocatedExceptionTest.php b/module/Core/test/Exception/IpCannotBeLocatedExceptionTest.php
new file mode 100644
index 00000000..4a00d5b9
--- /dev/null
+++ b/module/Core/test/Exception/IpCannotBeLocatedExceptionTest.php
@@ -0,0 +1,95 @@
+<?php
+declare(strict_types=1);
+
+namespace ShlinkioTest\Shlink\Core\Exception;
+
+use Exception;
+use LogicException;
+use PHPUnit\Framework\TestCase;
+use Shlinkio\Shlink\Core\Exception\IpCannotBeLocatedException;
+use Shlinkio\Shlink\Core\Exception\RuntimeException;
+use Throwable;
+use function count;
+use function func_get_args;
+use function random_int;
+
+class IpCannotBeLocatedExceptionTest extends TestCase
+{
+    /** @test */
+    public function forEmptyAddressInitializesException(): void
+    {
+        $e = IpCannotBeLocatedException::forEmptyAddress();
+
+        $this->assertTrue($e->isNonLocatableAddress());
+        $this->assertEquals('Ignored visit with no IP address', $e->getMessage());
+        $this->assertEquals(0, $e->getCode());
+        $this->assertNull($e->getPrevious());
+    }
+
+    /** @test */
+    public function forLocalhostInitializesException(): void
+    {
+        $e = IpCannotBeLocatedException::forLocalhost();
+
+        $this->assertTrue($e->isNonLocatableAddress());
+        $this->assertEquals('Ignored localhost address', $e->getMessage());
+        $this->assertEquals(0, $e->getCode());
+        $this->assertNull($e->getPrevious());
+    }
+
+    /**
+     * @test
+     * @dataProvider provideErrors
+     */
+    public function forErrorInitializesException(Throwable $prev): void
+    {
+        $e = IpCannotBeLocatedException::forError($prev);
+
+        $this->assertFalse($e->isNonLocatableAddress());
+        $this->assertEquals('An error occurred while locating IP', $e->getMessage());
+        $this->assertEquals($prev->getCode(), $e->getCode());
+        $this->assertSame($prev, $e->getPrevious());
+    }
+
+    public function provideErrors(): iterable
+    {
+        yield 'Simple exception with positive code' => [new Exception('Some message', 100)];
+        yield 'Runtime exception with negative code' => [new RuntimeException('Something went wrong', -50)];
+        yield 'Logic exception with default code' => [new LogicException('Conditions unmet')];
+    }
+
+    /**
+     * @test
+     * @dataProvider provideConstructorArgs
+     */
+    public function constructorInitializesException(): void
+    {
+        $args = func_get_args();
+        [$isNonLocatableAddress, $message] = $args;
+        $code = $args[2] ?? 0;
+        $prev = $args[3] ?? null;
+
+        switch (count($args)) {
+            case 2:
+                $e = new IpCannotBeLocatedException($isNonLocatableAddress, $message);
+                break;
+            case 3:
+                $e = new IpCannotBeLocatedException($isNonLocatableAddress, $message, $code);
+                break;
+            default:
+                $e = new IpCannotBeLocatedException($isNonLocatableAddress, $message, $code, $prev);
+        }
+
+        $this->assertEquals($isNonLocatableAddress, $e->isNonLocatableAddress());
+        $this->assertEquals($message, $e->getMessage());
+        $this->assertEquals($code, $e->getCode());
+        $this->assertEquals($prev, $e->getPrevious());
+    }
+
+    public function provideConstructorArgs(): iterable
+    {
+        yield 'without default args' => [true, 'Message'];
+        yield 'without prev' => [true, 'Message', random_int(1, 100)];
+        yield 'without all args' => [false, 'Foo', random_int(1, 100), new RuntimeException('Foo')];
+    }
+}
diff --git a/module/Core/test/Service/VisitServiceTest.php b/module/Core/test/Service/VisitServiceTest.php
index 46f1da37..a2821fa6 100644
--- a/module/Core/test/Service/VisitServiceTest.php
+++ b/module/Core/test/Service/VisitServiceTest.php
@@ -70,8 +70,11 @@ class VisitServiceTest extends TestCase
         $clear->shouldHaveBeenCalledTimes(floor(count($unlocatedVisits) / 200) + 1);
     }
 
-    /** @test */
-    public function visitsWhichCannotBeLocatedAreIgnored(): void
+    /**
+     * @test
+     * @dataProvider provideIsNonLocatableAddress
+     */
+    public function visitsWhichCannotBeLocatedAreIgnoredOrLocatedAsEmpty(bool $isNonLocatableAddress): void
     {
         $unlocatedVisits = [
             new Visit(new ShortUrl('foo'), Visitor::emptyInstance()),
@@ -88,14 +91,20 @@ class VisitServiceTest extends TestCase
         $clear = $this->em->clear()->will(function () {
         });
 
-        $this->visitService->locateUnlocatedVisits(function () {
-            throw new IpCannotBeLocatedException(false, 'Cannot be located');
+        $this->visitService->locateUnlocatedVisits(function () use ($isNonLocatableAddress) {
+            throw new IpCannotBeLocatedException($isNonLocatableAddress, 'Cannot be located');
         });
 
         $findUnlocatedVisits->shouldHaveBeenCalledOnce();
         $getRepo->shouldHaveBeenCalledOnce();
-        $persist->shouldNotHaveBeenCalled();
+        $persist->shouldHaveBeenCalledTimes($isNonLocatableAddress ? 1 : 0);
         $flush->shouldHaveBeenCalledOnce();
         $clear->shouldHaveBeenCalledOnce();
     }
+
+    public function provideIsNonLocatableAddress(): iterable
+    {
+        yield 'The address is locatable' => [false];
+        yield 'The address is non-locatable' => [true];
+    }
 }