Norway’s government has released a statement today announced Its plans to ban the establishment of new Bitcoin mining and crypto currency data centres for a limited time.
It was decided that the government would benefit from redirecting electricity towards other sectors of industry and economy.
“The Labour Party government has a clear intention to limit the mining of cryptocurrency in Norway as much as possible,” Karianne Tung, Minister of Digitalization and Public Administration.
According to Labour Party, the ban is due to excessive consumption of electricity by energy-intensive industries. Bitcoin It also criticized crypto-mining operations for being of little value to the economy.
“Cryptocurrency mining is very power-intensive and generates little in the way of jobs and income for the local community,” She also added.
“A temporary ban could be introduced during the autumn of 2025,” The government says.
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Source: bitcoinmagazine.com
