Norway moves to ban energy-heavy crypto mining
The Norwegian government has announced plans to introduce new regulations this fall targeting cryptocurrency mining by restricting data center operations.
Digitalization Minister Karianne Tung and Energy Minister Terje Aasland stated that the initiative stems from the government's desire to limit crypto mining projects, which are viewed as incompatible with the country’s environmental goals.
The new regulation will require mandatory registration of mining-related data centers with local authorities. Operators must disclose their intended services, while municipalities will independently decide whether to approve such projects based on their social and environmental impact. Only socially beneficial projects will be eligible for approval.
“The Labor Party-led government has a clear goal: to limit crypto mining in Norway as much as possible. It’s highly energy-intensive and offers little in terms of jobs or value to local communities,” said Karianne Tung.
Ecology and social impact at the core
Norway will become the first European country to implement comprehensive regulations for data centers, with a specific focus on controlling high energy-consuming activities.Finance Minister Trygve Slagsvold Vedum emphasized the need to prioritize electricity use for public needs, especially amid rising crypto mining activity.
According to the Cambridge Bitcoin Electricity Consumption Index (CBECI), Norway contributes approximately 0.74% of Bitcoin’s global hash rate.
Norway is also one of the world leaders in electricity production per capita, largely due to its mountainous terrain and wet climate, which favor hydropower development. Hydropower accounts for over 90% of the country’s electricity, while wind energy supplies another 7%.
The proposed regulations will apply to new mining and data center facilities. However, shutting down existing ones may lead to higher electricity prices in some municipalities.
In October last year, residents of Håstad—a Norwegian town that pushed for the closure of a local Bitcoin mining site—faced a sharp spike in electricity bills due to the resulting loss in revenue for the local utility. Climate-tech venture capitalist Daniel Batten stated that when politicians turn against Bitcoin, “people suffer.”
Mayor Kjell-Børge Freiberg acknowledged that shutting down the mine—which provides about 20% of the income for electricity provider Noranett—will inevitably lead to higher household energy costs to make up for lost revenue.
As we wrote, Norway supports MiCA, considers CBDC for financial stability
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
