2 months ago
1 min read
Iceland’s Prime Minister to reduce crypto mining due to its high energy use
Iceland’s Prime Minister, Katrín Jakobsdóttir, has announced plans to reduce crypto mining due to its high energy use, surpassing that of Icelandic homes. This aligns with a Bloomberg report highlighting the rise in demand for old Bitcoin mining equipment in places with cheaper electricity, particularly from the US. Iceland is known for its abundant hydro and geothermal energy, making it a prime spot for Bitcoin mining and the top energy producer per capita globally. However, Jakobsdóttir aims to shift this energy towards boosting food production and supplying power to homes and industries. The future of Iceland’s crypto mining sector appears