• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo

International Cryptocurrency Miners Flock to Scandinavia for Cheaper Power

newsbtc by newsbtc
3 years ago
in Uncategorized
Reading Time: 2min read
scandinavia
Advertisement
Nexo Logo
Listen to Article

Cryptocurrency mining will always remain a peculiar industry. A lot of people make good money from it, even though there’s also a degree of centralization involved. The quest for cheap electricity is far from over in this industry, though. It now seems Norway and Sweden are entering that particular show. Both countries attract a lot of attention from miners, which paints an interesting future.

Sweden and Norway Prove to be Quite Appealing

Very few countries around the world provide cheap and renewable electricity as we speak. Nordic countries are leading the charge in this regard. Both Sweden and Norway are home to cheap hydroelectric energy which is well worth paying attention to. These two countries are on the same level as Iceland in this regard, although that latter country is slightly more expensive in this regard.

Based on current prices, Sweden and Norway are between 11% and 19% cheaper. This is an option well worth taking into consideration as a cryptocurrency miner. The cheapest rate of energy is always the most appealing, for obvious reasons. This is a positive development for the two regions, as they continue to set the tone for the rest of Europe.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Sweden’s Vattanfall is quite pleased with the interest from cryptocurrency miners. This particular firm is happy to supply electricity to these companies. Although it is only a fraction of their business right now, it also presents a lot of new opportunities. Norway’s Statkraft is in the same boat, as they also welcome Bitcoin miners. An open-minded attitude can go a very long way in this regard.

International Miners Want Cheaper Electricity

It seems both of these countries are attracting a lot of interest from overseas. While domestic firms are also moving in on this cheap electricity, Chinese firms are inquiring as well. The abundance of cheap hydropower is something that will sway the mind of a fair few companies. BitFury, for example, seems to have taken a keen interest in Scandinavia right now.

Bitmain, the world’s leading cryptocurrency hardware manufacturers, also takes a shine to Norway and Sweden. This firm has already set up shop in Switzerland for other purposes. With the Chinese government cracking down on this industry, it is only normal companies move elsewhere. Europe is quickly becoming a cryptocurrency safe haven for many different reasons.

How this situation will pan out, remains to be seen. Both regions are improving their power grid infrastructure to accommodate this growing demand for electricity. That seems to confirm a lot more companies are in the process of setting up shop very soon. With Europe attracting cryptocurrency firms, an interesting tone is set. Rather than banning this activity, the continent sees it as a way to boost the local economy.

 

Image from Shutterstock
Tags: electricityHydro Powerminingnorwayscandinaviasweden
TweetShare
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
newsbtc

newsbtc

Related Posts

xrp ada salt crypto

XRP At Risk Of Falling Out Of Crypto Top Five For First Time Since 2013

39 mins ago
Bitcoin

Altcoins Fly as Bitcoin Ranges: What Analysts Think Comes Next for BTC

5 hours ago
bitcoin of america

How Bitcoin of America’s ATM Host Program has Helped Hundreds of Local Businesses

8 hours ago
Chainlink (LINK)

Charted: Chainlink (LINK) Remains In Strong Uptrend, Why It Could Test $25

12 hours ago
5 Projects Bringing Institutional-Grade Products to Crypto

5 Projects Bringing Institutional-Grade Products to Crypto

14 hours ago
Ethereum

TA: Ethereum Steadies Above $1,150: Why ETH Could Outperform BTC

15 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Robonomics Winter School 2021 Master Classes And Lectures Open For Attendees

January 18, 2021

Introducing ethrift.io Non-Custodial FIAT Ethereum Gateway

January 16, 2021

SV-based Taraxa Revolutionizes Legacy Data Auditing With Mathematically Provable Audit Trails

January 15, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.