Iceland became the first country to use more power mining bitcoin than is used by the entire household population of roughly 340,000 people. Because of its location and climate, bitcoin miners can alleviate the cost of cooling these mining farms as well as offsetting the high cost of power associated with mining farms. Volcanoes provide Iceland with a cheap and renewable for of energy. Geothermal and Hydroelectric plants drive down the cost of power which in turn allows miners to experience higher profits making Iceland a Bitcoin miners paradise!
