Norway Plans to Temporarily Ban New Bitcoin & Crypto Mining Centers to Conserve Energy
Today, the government of Norway announced its plans to introduce a temporary ban on establishing new Bitcoin and cryptocurrency mining data centres.
The government concluded that it was better to redirect electricity to other industries and economic sectors and that it would be better for the national interest.
“The Labour Party government has a clear intention to limit the mining of cryptocurrency in Norway as much as possible,” said the Minister for Digitalization and Public Administration Karianne Tung.
The ruling Labour Party has attributed the upcoming ban to the excessive electricity consumption by power-intensive Bitcoin and crypto mining operations, which it says offer little benefit to the broader economy.
“Cryptocurrency mining is very power-intensive and generates little in the way of jobs and income for the local community,” she added.
“A temporary ban could be introduced during the autumn of 2025,” according to the government.
This post Norway Plans to Temporarily Ban New Bitcoin & Crypto Mining Centers to Conserve Energy first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.
Read More[#item_full_content]Bitcoin Magazine
Bitcoin Magazine Bitcoin Community Recognizes Quantum Computing Risk: VanEck Quantum computing is a risk to…
Bitcoin Magazine Bitcoin Price Surges Over $81,000 Despite Clarity Act Fail and Interest Rate Hike…
Bitcoin Magazine The Next 3-5 Years of Bitcoin Lending SALT Lending CRO Hunter Albright says…
Bitcoin is down just 1.5% in its historically weakest month and remains on track for…
Bitcoin recovered from $75,972 overnight to just below $78,000, a third straight day of gains.Read…
The U.S. Treasury sanctioned BitBank, a Tehran exchange it says moved hundreds of millions of…