Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.
Sweden has a choice to make: Provide electricity for job-creating projects such as steel plants or devote more capacity to the Bitcoin miners that are gobbling up growing amounts of power. Energy Minister Khashayar Farmanbar says it’s no contest.
“We need energy for more useful things than Bitcoin, to be honest,” Farmanbar said in an interview. “We are moving from a period of administration to an extreme expansion where our entire manufacturing industry is seeking to electrify.”
His comments suggest Sweden, home to what could be Europe’s largest Bitcoin mining industry, may become less hospitable to the business. The government is so concerned about electricity use that it asked the Swedish Energy Agency late last month to come up with ways of tracking how much power is used for digital infrastructure, with a special focus on crypto mining.
Swedish Power Demand Forecast
Bitcoin miners...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...