December 01, 2018 00:22:10
Bitseven.com - A couple of days ago the Norwegian government approved the budget for next year. To everyone’s surprise, mining pools will no longer be able to rely on electricity at subsidized rates. Now the cost for electricity for miners will increase several dozen times, which will make the process of mining digital currencies in this country unprofitable. Changes in legislation are related to the environmental consequences of this type of activity.
Sweden is ready to take advantage of the current situation. Their data centers already are receiving a huge number of applications for cooperation from miners from Norway. It is worth mentioning that the cost for electricity in Sweden is relatively low, which attracts many companies here.
Among the companies wishing to leave Norway is also Bitmain, that had plans building a branch in this state.
Experts believe that countries should provide more benefits for companies working on mining digital assets, as the cost of coins and the future of the entire industry directly depend on this.