Today, the government of Norway has announced its plans to introduce a temporary prohibition to establish new Bitcoin and cryptocurrency mining data centers.
The government concluded that it was better to redirect electricity to other economic sectors and sectors and that it would be better for national interest.
“The government of the Labor Party has the clear intention of limiting as much as possible the mining of cryptocurrency in Norway,” said the Minister for digitalization and the Karianne Tung public administration.
The Labor Party in Power has attributed the imminent ban on excessive consumption of electricity by the mining operations of Bitcoin and cryptocurrency with a high intensity of power, which according to him offers few benefits to the wider economy.
“Cryptocurrency mining is very high in power and generates little in terms of work and income for the local community,” he added.
“A temporary prohibition could be introduced during the autumn of 2025”, according to the government.