At this time, the federal government of Norway announced its plans to introduce a brief ban on establishing new Bitcoin and cryptocurrency mining information 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 Social gathering authorities has a transparent intention to restrict the mining of cryptocurrency in Norway as a lot as doable,” stated the Minister for Digitalization and Public Administration Karianne Tung.
The ruling Labour Social gathering 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 could be very power-intensive and generates little in the way in which of jobs and earnings for the local people,” she added.
“A brief ban may very well be launched through the autumn of 2025,” in keeping with the federal government.
