Today, the Norwegian government announced plans to introduce a temporary ban on the establishment of new Bitcoin and cryptocurrency mining data centres.
The government concluded that it would be better to redirect electricity to other industries and economic sectors, and that national interests would be better.
“The Labour government has a clear intention to limit the mining of Norwegian cryptocurrency as much as possible,” said Minister of Digitalization and Administration Khalian Tun.
The ruling Labour Party believes the future ban will be attributed to excessive electricity consumption from electricity-intensive Bitcoin and crypto mining businesses.
“Cryptocurrency mining is a huge amount of electricity that rarely interferes with community work or income,” she added.
According to the government, “a temporary ban could be introduced in the fall of 2025.”
Discover more from Earlybirds Invest
Subscribe to get the latest posts sent to your email.
