$BTC

The Government of Norway announced on June 20 its intention to introduce a temporary ban on the establishment of new data centers engaged in the most energy-intensive cryptocurrency mining. This step aims to conserve the country’s electricity for other industrial sectors.

Karianne Tung, the Minister of Digitalization and Public Administration of Norway, stated that the Labor Party government has a “clear intention to significantly limit cryptocurrency mining in Norway.” Tung emphasized the rationale for the upcoming ban, noting: “Cryptocurrency mining is very energy-intensive and yields little in terms of jobs and income for the local community.”

The temporary ban is expected to be implemented in the fall of 2025. This decision underscores Norway's evolving stance on cryptocurrency mining, moving towards a more restrictive approach to prioritize energy resources for sectors that are deemed to provide greater economic and social benefits.