Norway's halt on Bitcoin mining significantly impacts European energy policy. As a major mining hub due to cheap, renewable hydropower, Norway's decision to curb operations, citing high energy consumption, signals a shift toward stricter regulations. This aligns with Sweden's push to ban energy-intensive proof-of-work mining, reflecting growing environmental concerns. The move could raise electricity costs for local consumers, as seen in Hadsel, where bills rose 20% post-closure. It may push miners to relocate to less regulated regions, challenging the EU's goal of balancing renewable energy use with economic growth. Norway's actions could inspire a unified EU policy promoting sustainable blockchain technologies, like proof-of-stake, while discouraging energy-heavy crypto activities. This underscores the need for Europe to address crypto mining's environmental footprint amid its energy transition goals. 0 reply
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