Norway plans temporary ban on power-intensive cryptocurrency mining
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FILE PHOTO: Representations of cryptocurrencies are seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic/Illustration/ File Photo
COPENHAGEN (Reuters) -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 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 for the local community," she added.
A temporary ban could be introduced during the autumn of 2025, the government said.
(Reporting by Louise Breusch Rasmussen, editing by Terje Solsvik)
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