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Bitcoin's green Nordic haven running out of surplus electricity as industrial thirst for power grows

Bitcoin's green Nordic haven running out of surplus electricity as industrial thirst for power grows
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Bitcoin's Green Haven Is Running Out of Surplus Electricity

Publishing date: Apr 17, 2021 • 1 hour ago • 4 minute read •
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(Bloomberg) The Nordic region is losing its edge in green Bitcoin mining, just as the industry faces growing scrutiny for its carbon emissions and everyone from Elon Musk to mom-and-pop investors pile in.
Iceland, Sweden and Norway have been popular mining locations because of an abundance of geothermal, hydro and wind power. China, where most coins are mined, relies mainly on coal. That Nordic power surplus is set to dwindle as aluminum smelters, oil rigs and steelmakers thirst for renewable energy.
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Nordic region, Bitcoin's green haven, is running out of surplus electricity

The Nordic region is losing its edge in green Bitcoin mining, just as the industry faces growing scrutiny for its carbon emissions and everyone from Elon Musk to mom-and-pop investors pile in.
Iceland, Sweden and Norway have been popular mining locations because of an abundance of geothermal, hydro and wind power. China, where most coins are mined, relies mainly on coal. That Nordic power surplus is set to dwindle as aluminum smelters, oil rigs and steelmakers thirst for renewable energy.
“There could be very little excess energy in 2021 and 2022,” said Hordur Arnarson, chief executive officer at Landsvirkjun, Iceland’s national utility. “Because of the climate issues we see a lot of very interesting segments that are growing rapidly, and several of them need electricity.” ....

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Bitcoin's green haven is running out of surplus electricity

Bitcoin’s green haven is running out of surplus electricity
The Nordic region is facing a renewable energy crunch as heavy industries and bitcoin miners compete for clean power
By Ragnhildur Sigurdardottir, Lars Paulsson and Jesper Starn / Bloomberg
The Nordic region is losing its edge in green bitcoin mining, just as the industry faces growing scrutiny for its carbon emissions and everyone from Tesla Inc chief executive officer Elon Musk to mom-and-pop investors pile in.
Iceland, Sweden and Norway have been popular mining locations because of an abundance of geothermal, hydro and wind power. China, where most coins are mined, relies mainly on coal. That Nordic power surplus is set to dwindle as aluminum smelters, oil rigs and steelmakers thirst for renewable energy. ....

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Bitcoin's Green Haven Is Running Out of Surplus Electricity

Bitcoin's Green Haven Is Running Out of Surplus Electricity
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