Bitcoin

Impact

<p>Norway has pioneered employing a setting for data center execution. The initiative will first cover all data centers in the country by compulsorily registering individuals and organizations, especially those involved in governance and offering online servers. They must provide details about ownership, leadership, and their services. Norway will become the first European country to establish such a framework.</p>
<h2 class="wp-block-heading" id="impact-on-norway-bitcoin-miners">Impact on Norway Bitcoin miners</h2>
<p>As for Transparency, Terje Aasland, Minister of Energy in Norway, said the regulation gave policymakers an overall clear picture about which data centers were operating in their local districts. The minister <a href="https://www.vg.no/nyheter/i/9zgyxq/regjeringen-slaar-ned-mot-krypto-datasenter-uoensket-i-norge" rel="noopener noreferrer nofollow" target="_blank">claims</a> that the primary focus is on the rules and regulations, which are formulated to determine the scale of projects that are not wanted.</p>
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 <p>“The purpose is to regulate the industry in such a way that we can close the door for the projects we do not want”</p>
</blockquote>
<p>The legislation could have a great impact on <a href="https://www.cryptopolitan.com/bitcoin-miners-may-not-have-a-happy-halving/" rel="noopener noreferrer nofollow">Bitcoin miners</a> in the country, especially with the upcoming Bitcoin halving. This further reinforces the major worries about how digital currency affects the environment. What lays ahead is a halving event, which, in a nutshell, describes a situation where Bitcoin mining for profit would become increasingly difficult.&nbsp;</p>
<h2 class="wp-block-heading" id="preference-for-societally-beneficial-data-centers">Preference for societally beneficial data centers</h2>
<p>Aasland adds,</p>
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 <p>“[Crypto mining] is linked with large greenhouse gas emissions, and is an example of a type of business we do not want in Norway.”</p>
</blockquote>
<p>Surveys show that Numerous Bitcoin mining firms are currently operating in northern Norway which has lower energy prices.&nbsp;</p>
<p>The minister made it clear that although Bitcoin mining firms aren’t desired in the country, doors are open for data centers that fulfill societally beneficial roles, like centers that operate as storage servers, which he called an important part of the social structure of Norway.</p>

Norway introduces new legislation for data centers

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