Today, the government of Norway announced its plans to introduce a temporary ban on establishing new Bitcoin and cryptocurrency mining data centres.
The government concluded that it was better to redirect electricity to other industries and economic sectors and that it would be better for the national interest.
“The Labour Party government has a clear intention to limit the mining of cryptocurrency in Norway as much as possible,” said the Minister for Digitalization and Public Administration Karianne Tung.
The ruling Labour Party has attributed the upcoming ban to the excessive electricity consumption by power-intensive Bitcoin and crypto mining operations, which it says offer little benefit to the broader economy.
“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,” according to the government.