> Starting on Tuesday, no new requests for power from Bitcoin mining operations will be accepted from the country’s energy utility service.
> Mining operations have long been attracted to the country due to its abundance of geothermal energy, which is harvested to create a cheap and plentiful supply of renewable energy. But from Tuesday for an unknown period of time, any new requests for electricity from mining operations will be rejected, according to Landsvirkjun.
> Canada’s Hive Blockchain Technologies, Genesis Mining and Bitfury Holding are the three main Bitcoin mining companies that have opened facilities in Iceland.
> For nearly a decade, miners have tried to realize the promise of environmentally friendly Bitcoin mining in Iceland. In 2013, Cloud Hashing moved 100 miners to Iceland. In November 2017, Austrian company HydroMiner GmbH raised about $2.8 million in its initial coin offering to install mining rigs directly at Icelandic power plants.
Great.
Fair enough. The bitcoin industry seems like a enormous drain of resources and in turn provides next to nothing.
9 comments
Goood
In case you have it paywalled, alternative source:
[“Iceland cuts power to new Bitcoin miners”](https://cointelegraph.com/news/iceland-cuts-power-to-new-bitcoin-miners)
> Starting on Tuesday, no new requests for power from Bitcoin mining operations will be accepted from the country’s energy utility service.
> Mining operations have long been attracted to the country due to its abundance of geothermal energy, which is harvested to create a cheap and plentiful supply of renewable energy. But from Tuesday for an unknown period of time, any new requests for electricity from mining operations will be rejected, according to Landsvirkjun.
> Canada’s Hive Blockchain Technologies, Genesis Mining and Bitfury Holding are the three main Bitcoin mining companies that have opened facilities in Iceland.
> For nearly a decade, miners have tried to realize the promise of environmentally friendly Bitcoin mining in Iceland. In 2013, Cloud Hashing moved 100 miners to Iceland. In November 2017, Austrian company HydroMiner GmbH raised about $2.8 million in its initial coin offering to install mining rigs directly at Icelandic power plants.
Great.
Fair enough. The bitcoin industry seems like a enormous drain of resources and in turn provides next to nothing.
Good news! Crypto bad.
Good job guys.
Smart move.
This is good news for the price of bitcoin
Good.