% 1.22
BTC Dominance:
% 0.13
Market Cap:
$2.44 T
% 3.67
Fear & Greed:
74 / 100
$ 68.052
BTC Dominance:
% 54.4
Market Cap:
$2.44 T

Iceland May Ban Bitcoin Mining

Bitcoin Mining

The Prime Minister of Iceland made a statement on Bitcoin and BTC mining. Katrín Jakobsdóttir stated that she was referring to Bitcoin and BTC mining activities in the country.

In a recent interview, Icelandic Prime Minister Katrín Jakobsdóttir revealed that the country plans to prioritize food security over financial gain.

This decision comes in response to recent protests by farmers in Europe and trade disruptions that have highlighted the need for the Nordic country to reduce its dependence on imports.

Despite the challenges of farming in Iceland, where glaciers cover much of the country, Jakobsdóttir emphasized the importance of agriculture in safety and security strategies. “Being a farmer in Iceland is not easy. The fields are not great. But agriculture is an important part of our safety and security strategy in this world.”

Efforts on food security are coupled with an attempt to curb the energy-hungry Bitcoin miners that have made the island a data center haven. Jakobsdóttir expressed concern that a significant portion of Iceland’s green energy is being consumed by Bitcoin mining centers, and suggested that valuable renewable electricity from these centers be diverted to housing and other sectors:

“Bitcoin is a worldwide problem, but data centers in Iceland use a significant amount of our green energy. A new proposal to increase wind power would ‘prioritize’ green industries to achieve carbon neutrality. Bitcoin and cryptocurrencies, which use a large part of our energy, are not part of this mission.”

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