Norway Considers Tough Crypto Mining Restrictions, Favors Energy-Efficient Data Centers
Norway's Energy Minister Terje Aasland has expressed support for data centers with social utility, such as storage servers, while hinting at restrictions for energy-intensive bitcoin mining projects like bitcoin. The move comes amidst previous attempts to regulate the industry and a new bill submitted by the Norwegian Labour Party (AP).
Aasland has praised video platforms over bitcoin, despite the environmental benefits of bitcoin mining. Companies like Bluebite and Kryptovault have been thriving in Norway, benefiting from reduced CO2 emissions and job creation. The Communist Party of Norway (Rødt) and the Norwegian government have previously considered restrictions on bitcoin mining.
The AP's new bill aims to regulate data centers, effectively targeting bitcoin mining. If passed, Norway would become the first European country to introduce a regulatory framework for bitcoin mining, allowing stricter control and significant restrictions. The law would require registration of all data centers and collection of operator and service information. The government prefers to slow down high-energy consumption projects while favoring less energy-intensive data centers.
Norway's cheap renewable energy and free cooling in the north make it an attractive location for small bitcoin mining companies. However, the new bill's acceptance remains uncertain, and its passage could significantly impact the bitcoin mining industry in the country.
Read also:
- Saudi Arabia's TASI Surges Past 11,000, Leading Gulf Equities Rally
- TikTok's deal negotiations continue following a conversation between Xi and Trump
- Trump announces agreement with Chinese authorities on TikTok deal
- Quantum Computing Market in the Automotive Sector Forecast to Expand to $6,462.13 Million by 2034
