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Bitcoin's green haven is running out of energy - The Economic Times


Bitcoin’s green haven is running out of energy
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Last Updated: Apr 18, 2021, 07:40 AM IST
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Iceland, Sweden and Norway have been popular mining locations because of an abundance of geothermal, hydro and wind power.
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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Bitcoin's Green Haven Is Running Out of Surplus Electricity


Publishing date: Apr 17, 2021  •  1 hour ago  •  4 minute read  • 
Article content
(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.” ....

United Kingdom , Espen Barth Eide , Elon Musk , Warren Buffett , Daniel Fannar Jonsson , Kevin Oleary , Johann Snorri Sigurbergsson , Hordur Arnarson , Morgan Stanley , Nature Communications , Goldman Sachs Group Inc , Bitfury Holding , Tesla Inc , Hong Genesis Mining Ltd , University Of Cambridge , Hive Blockchain Technologies Ltd , Citigroup Inc , Rio Tinto Plc , O Leary Funds Management , Blockchain Technologies , Kong Listed Genesis Mining , Norwegian Labor , Volue Insights , Sachs Group , ஒன்றுபட்டது கிஂக்டம் , வாரன் பஃபெட் ,