Norway

Norway’s new law regulates crypto mining due to environmental worries, aiming to align with global climate goals. The law targets data centers facilitating mining, reflecting Norway’s commitment to responsible digitalization. Norway’s government is making strides to introduce legislation to regulate data centers, primarily focusing on curbing energy-intensive cryptocurrency mining operations within its borders. The new law, revealed by local news outlet VG, underscores the government’s commitment to curb crypto mining activities’ environmental impact within its borders. Digitalization Minister Karianne Tung…

According to a recent report, Kryptovault AS, a large-scale, Norway-based crypto mining company is set to relocate North of the Arctic circle. The company’s plans to switch base stem from surging electricity prices in Norway, a phenomenon that seems confined to the region. Norway a Mining Hub Over the past couple of years, Norway has evolved into one of Europe’s biggest mining hubs. In a recent study, analysis firm Arcane Research noted that Norway is responsible for about 1% of…

In a voting majority, earlier this week, Norway’s parliament the Storting ruled against a proposal to outlaw Bitcoin mining. Proposing the bill was Sofie Marhaug, representing Rodt, Norway's communist party. Marhaug’s party contended that Bitcoin extraction consumed too much energy which according to them was not good for Norway’s electricity reserves.   Backing them were only two parties: The Socialist People's party and the Labor party. Unfortunately for rising Bitcoin mining naysayers, the Storting disagreed and rejected the proposal. Bitcoin Mining…