Today, the federal government of Norway introduced its plans to introduce a short lived 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 could be higher for the nationwide curiosity.
“The Labour Party government has a clear intention to limit the mining of cryptocurrency in Norway as much as possible,” mentioned the Minister for Digitalization and Public Administration Karianne Tung.
The ruling Labour Celebration 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 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,” based on the federal government.
