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8 months ago
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ARTICLE AD BOX
- The decision might lead to more scrutiny for Bitcoin miners in the nation amid the halving.
- The new law is an attempt to provide legislators a clearer picture of data centers.
Bitcoin (BTC) miners may be subject to more tracking after Norway approved new data center laws. All data centers in the nation will be required by the new law to formally register. This registration will include details on the data centers’ owners, managers, and the digital services they provide. Norway will lead the way in establishing such a framework throughout Europe.
According to Norway’s minister of energy Terje Aasland, the new law is an attempt to provide legislators a clearer picture of data centers in municipalities so that they may make more informed decisions on whether to approve or reject their operations.
Increased Scrutiny
In addition to the impending Bitcoin halving, which will cut block issuance incentives in half, threatening the profitability of Bitcoin miners, the decision might lead to more scrutiny for Bitcoin miners in the nation.
Aasland elaborated by saying that Norway’s cryptocurrency mining business has operated mostly unchecked. The minister went on to say that companies seeking to extract the country’s inexpensive electricity are not welcome.
There are a plethora of Bitcoin mining operations in northern Norway right now, because of the region’s cheap power. Local media source Dagsavisen reported in 2023 that crypto mining enterprises in northern Norway utilize approximately the same amount of power as the Lofoten district.
Aasland did point out, however, that Bitcoin mining companies aren’t wanted in the nation. According to the minister, data centers that serve a social purpose, such as storage server centers, are welcome. He referred to these facilities as an integral component of Norway’s social framework.
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