Green Light for Bitcoin Mining in Norway – Geeko

This week, the Norwegian parliament rejected a proposed ban on bitcoin and cryptocurrency mining by the Greens, the Socialists and the Communists.

As in Sweden, several parties have tried to ban cryptocurrency mining in the country, with Norway becoming a desirable destination for mining companies in recent years. The country is even regularly cited as an example. It is currently the only country where all mining is powered by renewable energy. 88% of the country’s production comes from hydroelectric power and 10% from wind.

Compared to other countries, Norway also offers relatively cheap energy, with some parts of the country charging less than one cent per kilowatt hour.

It was very difficult for the socialist, communist and environmental parties to find voices in support of their proposal. Previously, the country has already tried to introduce a tax on the extraction of minerals. The proposal was also not supported by the opposing parties.

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