At this time, the federal government of Norway introduced its plans to introduce a brief ban on establishing new Bitcoin and cryptocurrency mining knowledge centres.
The federal government concluded that it was higher to redirect electrical energy to different industries and financial sectors and that it will be higher for the nationwide curiosity.
“The Labour Occasion authorities has a transparent intention to restrict the mining of cryptocurrency in Norway as a lot as doable,” mentioned the Minister for Digitalization and Public Administration Karianne Tung.
The ruling Labour Occasion has attributed the upcoming ban to the extreme electrical energy consumption by power-intensive Bitcoin and crypto mining operations, which it says provide little profit to the broader economic system.
“Cryptocurrency mining may be very power-intensive and generates little in the best way of jobs and revenue for the area people,” she added.
“A short lived ban might be launched through the autumn of 2025,” in accordance with the federal government.
