Norway plans temporary ban on power-intensive cryptocurrency mining

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Norway aims to impose a temporary ban on the establishment of new data centres that mine cryptocurrency with the most power-intensive technology, in order to conserve electricity for other industries, the Nordic country’s government said on Friday.

“The ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/labour-party” target=”_blank”>Labour Party government has a clear intention to limit the mining of cryptocurrency in Norway as much as possible,” Minister for Digitalization and Public Administration Karianne Tung said in a statement.

“Cryptocurrency mining is very power-intensive and generates little in the way of jobs and income…



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Norway plans temporary ban on power-intensive cryptocurrency mining


Norway aims to impose a temporary ban on the establishment of new data centres that mine cryptocurrency with the most power-intensive technology, in order to conserve electricity for other industries, the Nordic country’s government said on Friday.

“The ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/labour-party” target=”_blank”>Labour Party government has a clear intention to limit the mining of cryptocurrency in Norway as much as possible,” Minister for Digitalization and Public Administration Karianne Tung said in a statement.

“Cryptocurrency mining is very power-intensive and generates little in the way of jobs and income…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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