Bloomberg: Iceland becomes a refuge for crypto -agents – Bits Media

Iceland turned out to be an attractive country for mining bitcoins against the backdrop of the roads of electricity and pressure from regulators in other European countries, And also the USA.

The industrial capacities of the island almost completely work on hydroelectric and geothermal energy. Miners use this power for their equipment. Iceland attracts miners not only with renewable sources of electricity, but also a cool climate, which is attractive for overloaded data processing centers.

“Until then, until mining has appeared here, In Iceland, the vast majority of electricity was not sold ", - says Daniel Yonsson (Daniel Jonsson), General Director Greenblocks. Icelandic supplier of data centers services.

According to Jonsson, The country has excessive electricity, which local factories and households do not want to buy.

Another advantage of the Icelandic electric power system is its complete isolation from the rest of the world, protecting against global inflation and growth in electricity prices ". This is stated in the research report supplier of mining services of cryptocurrencies Luxor Technologies. According to Luxor, The Icelandic Bitcoin Production Industry consumes about 120 MW.

“With the population c 370 000 man of Iceland is the most densely populated country on the planet, engaging the mining of bitcoins ".

In May it became known, That, against the backdrop of the growing pressure of US regulators, the New York mining company Bit Digital expands its infrastructure in Iceland.

Earlier in France they said, that cryptocurrency companies, which move away from the uncertainty of regulation, will be happy to be met in France. 74 Company, Including Binance and Bitstamp exchanges, Already received registration in this European country. The French authorities expect, that the number of companies will grow to 100.