The Crypto space is making headlines in Norway again.
This time the discussion isn't focusing on the value.
Data centres have a lower electricity tax, which attracts large companies.
But now Norway has decided that data centres that also mine crypto currencies will no longer be eligble to the lower tax. Which are causing the companies to cancel planned centres. Among the companies are Bitmain.
Electricity tax levels for data centres in Scandinavia.
- Denmark: 0,5 øre/kWh
- Finland: 6,5 öre/kWh
- Sweden: 0,5 öre/kWh
- Norway: 0,48 øre/kWh
The new regulation will have the data centres that mine cryptos paying 16,58 øre/kWh from 1 January 2019, in Norway.
The Norwegian government
expects to earn 10 million NOK from the increased tax level (roughly £1 million).
Cryptovaults have several centres already in Norway.
Canadian Hive Blockchain is planning to build a huge data centre in the northern Norway.
According to e24.no, new data centres may use as much electricity as half of the country's power usage.
For the last couple of years, the price for electricity was low on Nord Pool market. Around 30 öre/kWh I would say. This year the prices has been steadily climbing, and around 50 öre/kWh I would say. Plus taxes and other cost.
A major US crypto mining firm, Giga Watt has filed for bankruptcy on 19 November
https://cointelegraph.com/news/crypt...hington-county
Will the large crypto farms/centres scale-back be positive for the smaller communities, if the large farms are shutting down some operation?
Or is this of no help to crypto miners like yourselves?