Thanks to cheap weather, cheap energy and fast network, Iceland is a paradise for bitcoin mining. However, the mining that exploits the energy of the country is about to create serious problems. Iceland faces an interesting problem these days. But before we talk about this problem, let's explain some of the energy production in the country. Iceland meets almost all of its energy with renewable energy. The country, which has a very limited population with 340 thousand people, did not suffer much from producing energy for its citizens. Of course before this city was taken over by bitcoin
Thanks to cheap energy and super-fast fiber optic networks, it has not taken much time to set up special mining facilities in the country that became miners' eyes babies. Much of the equipment used for mining was also warmed by the cold weather conditions of the country. Moreover, thanks to the renewable energy, the energy consumption was quite
So the miners began exploiting Iceland. Iceland can not raise energy for bitcoin miners According to the statement made a critical change in the energy consumption of the country. Soon the energy consumed for bitcoin mining will exceed your consumption for houses. It is stated that the energy consumed is increased exponentially and it is noted that sufficient energy can not be produced if this increase continues. Iceland Pirate Party member Smari McCarthy "Companies that produce value in Iceland under normal conditions pay a certain amount of taxes to the state.