Iceland braces for a possible volcanic eruption near a key geothermal plant powering crypto mines. The Fagradalsfjall volcano, located just three kilometers from the Svartsengi geothermal plant, poses a significant threat following escalating earthquakes in the southwestern Reykjanes region since October 26. Despite a decrease in seismic activity, Grindavik town has been evacuated, with an eruption deemed imminent.
Authorities are fortifying the plant with defensive walls to protect against potential lava flows. Iceland's justice minister reported mobilizing resources equivalent to 20,000 truckloads for the barrier. The plant, crucial to the region's crypto mining operations, supplies power to companies like Bit Digital, Bitfury, and Genesis Mining, according to <a href="https://cryptonews.net/news/mining/27838973/" rel="noopener noreferrer nofollow">cryptonews</a>.
Despite the looming volcanic threat, Bit Digital claims unaffected operations and has prepared contingency plans. Cameron Schnier, the head of investor relations, assured that the data center is far from the earthquake impacts and that alternative power arrangements are in place. The company expects minimal downtime if power disruptions occur.
Iceland's burgeoning bitcoin <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/" rel="noopener noreferrer nofollow">mining industry</a>, labeled as the densest in the world, consumes about 120 MW of power. HS Orka, the owner of the Svartsengi plant, expressed surprise at the crypto mining demand spike in 2018. The plant is a vital national resource, powering the entire country, including the capital, Reykjavik.

Volcanic Threat to Icelandic Crypto Mining Operations

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