Interestingly, those looking for low commercial power prices for bitcoin and ethereum are starting to set their sights on Sweden and Norway. Their power prices are significantly lower than Iceland’s and than European prices. for Sweden’s Vattenfall and Norway’s Statkraft this is very good news.
Iceland has been Europe’s most popular location for miners of digital currencies such as bitcoin and ethereum. Bitcoin miners use approximately 130 terawatt hours of energy a year. As Olivier Roussy Newton, the director and co-founder of Canadian group HIVE Blockchain Technologies (HIVE.V), said, “We’re on a global hunt to secure as much power as we can,” and they started mining ethereum this past January in Sweden.