Bitcoin Mine Shutdown In Norway Sparks Higher Power Bills For Residents
After a Bitcoin mine closed in Hadsel, Norway, residents received a surprise. Initially lauded for decreasing noise pollution, the shutdown has raised community electricity expenses. Related Reading: Crypto Beef Up 2024 US Elections With $190 Million In Donations Operating under Kryptovault, the mine consumed a significant portion of the local power distributor Noranett’s income. Now, […]
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After weeks of continued bullishness, Helium has now succumbed to the bearish pressure going against the grain as the broader market skyrockets in the short term. The latest market data shows that HNT fell by nearly 16% since last week, leading to a flip in investor sentiment. Related Reading: Bitcoin Mine Shutdown In Norway Sparks […]
The crypto market surged over the weekend as optimism grew that the United States government shutdown, now in its 40th day, may finally be coming to an end. Related Reading: US Gov’t Shutdown Deal Sparks Hope For Crypto Market Relief Reports of a bipartisan Senate deal lifted global investor sentiment, sending Bitcoin above $106,000 and […]
Bitcoin surged past $105,000 on Monday, extending gains to trade near $106,000 as optimism over the U.S. government’s shutdown resolution revived risk appetite across global markets. Related Reading: US Gov’t Shutdown Deal Sparks Hope For Crypto Market Relief Reports of a Senate breakthrough to fund key departments and reopen government operations triggered a wave of […]
"We are in a completely different situation in the power market now than when the reduced rate for data centers was introduced in 2016," said Norway's finance minister. Trygve Slagsvold Vedum, the finance minister of Norway, has suggested the government abolish a scheme that allows crypto data centers to pay a reduced rate on electricity.In an Oct. 6 announcement, the government of Norway proposed that data centers operating in the country be subject to the same electricity tax rates as other industries, representing a potential change in policy for Bitcoin (BTC) miners. According to the....
The Norwegian government is reviewing a proposal to abolish the policy of preferential tax treatment for data centers mining cryptocurrency with cheaper electricity. The executive power in Oslo says conditions have changed and the country needs the energy currently used by miners. Mining Firms Likely to Lose Tax Incentive as Norway Seeks to Save Power, Collect More Tax Norwegian authorities are on their way to scrap a tax cut that has been benefitting crypto mining businesses for years. They are proposing to get rid of the reduced electricity tax rate for data centers in the Nordic....