Bitcoin Miners Unphased by Iceland’s Cold Shoulder as Energy Demand Mounts

Bitcoin Miners Unphased by Iceland’s Cold Shoulder as Energy Demand Mounts

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By CCN: Iceland has been a hotbed for bitcoin mining for years, fueled by its cheap geothermal power. However, the Nordic island nation is pumping the brakes on more crypto mining as it seeks to thwart accelerating energy demand. Last year, Icelandic authorities targeted crypto miners for higher taxes amid the industry’s huge electricity consumption. Now, it seems that a growing organic movement within the country sees mining expansion as a potential environmental hazard, too. Bitcoin miners are increasingly viewed as an existential threat to Iceland’s unrivaled and largely untouched countryside, according to an Al-Jazeera special report. A coalition of environmentalists,

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