Norwegian miners are fleeing the country to neighboring Sweden. What is the reason?

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2018-11-26 18:30:08

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Norwegian miners are fleeing the country to neighboring Sweden. What is the reason?

In recent years, the Swedish data centers receive a vast number of requests for cooperation from the Norwegian miners. We will remind, this week the Norwegian authorities have revised fiscal recovery of the energy sector of the country. Due to the increase in electricity tariffs, the future of many mining centres are now under threat, so they seek asylum abroad.

the

The dirtiest form of cryptography

Up To this time mining centres in Norway are paid at the same rate as normal users. Companies with consumption of more than half of the megawatts pay only 0,48 NOK per kilowatt (about 5 cents at current exchange rates). After the introduction of the new tariffs, the miners will have to pay almost two dollars per kilowatt.

The Changes will come into force from January 2019. Such a sharp increase in costs at the low price of Bitcoin makes mining in Norway is completely unprofitable. Many large miners invested in this country because of the cold climate and relatively cheap electricity. They are disappointed that such a serious step was taken by the government without prior discussion with the major cryptocurrency business.

The representative of the Parliament Lars Haltbrekken announced the official motivation of the reform.

Norway can no longer make concessions to the dirtiest form of cryptography like Bitcoin. Cryptocurrency consumes too much energy and harm the environment.

the

Victory for Sweden

Of Course, the influx of new customers is good news for Swedish entrepreneurs. Now the country is quite democratic policy electricity — only 0.5 SEK (about five cents).

image Source — Bitcoinist

Under the impact of the Norwegian «sanctions» was even the largest mining company Bitmain. The tariff increase is fully offset by management's plans Bitmain to build a branch in Norway. Let's hope that Sweden will provide a good alternative to all the miners who were caught by surprise.

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