Norwegian Miners Seek Cheaper Green Energy Beyond the Arctic Circle

According to a recent report, Kryptovault AS, a large-scale, Norway-based crypto mining company is set to relocate North of the Arctic circle. The company’s plans to switch base stem from surging electricity prices in Norway, a phenomenon that seems confined to the region. Norway a Mining Hub Over the past couple of years, Norway has evolved into one of Europe’s biggest mining hubs. In a recent study, analysis firm Arcane Research noted that Norway is responsible for about 1% of…

Norway’s Parliament Rejects Proposal to Ban Bitcoin Mining

In a voting majority, earlier this week, Norway’s parliament the Storting ruled against a proposal to outlaw Bitcoin mining. Proposing the bill was Sofie Marhaug, representing Rodt, Norway's communist party. Marhaug’s party contended that Bitcoin extraction consumed too much energy which according to them was not good for Norway’s electricity reserves.   Backing them were only two parties: The Socialist People's party and the Labor party. Unfortunately for rising Bitcoin mining naysayers, the Storting disagreed and rejected the proposal. Bitcoin Mining…