Bitcoin (BTC) mining in Norway accounts for 0.77% of Bitcoin’s hash rate and is 100% renewable, consuming almost all of its hydropower. followArcane Research report
According to the Cambridge Bitcoin Electricity Consumption Index, the report concludes: Norway has a 0.77% share of the global Bitcoin hash rate, of which Norway’s population is 5 million, which is 0.07% of the world’s population.
According to the Norwegian Water and Energy Resources Board (NVE). specify Most importantly, Norway’s electricity mix is 100% renewable, with 88% hydro power and 10% wind. This means that Norwegian Bitcoin miners use only “green” energy.
“The most important thing for Bitcoin miners about Norway’s electricity consumption is entirely new renewable energy. and it will stay that way.”
Jaran Mellerud, analyst at Arcane Research and author of the report.saythat there will be “great growth for mining in northern Norway where hydroelectric power is abundant This gives the mine access to super-cheap renewable electricity and 100% renewable energy.”
“Heat is so precious in the cold north. This allows the excess heat from the mining mine to be recycled. This will benefit both industry and society in the future.”
German company Bluebite has been operating data centers in the Norwegian Arctic since 2018, with one of the Bitcoin mining company data centers formerly known as the “Hell of Lapland” due to its “unsatisfactory and unfavorable atmosphere.” ” said Conor Davis, CEO of Bluebite.
But with the introduction of Bitcoin mining, the area once known for the copper mining industry has come alive again. Because it uses Norway’s cheap and renewable resources.
Bluebite is currently checking that. The heat dissipation generated by Bitcoin mining could be used to grow strawberries vertically. Or can it heat the local population?
The post Norway already has a hash rate of almost 1% and uses 100% renewable energy appeared first on Bitcoin Addict.