Norway’s Red Party fails to win support for increased electricity fee for bitcoin miners.
A push to prohibit the energy-intensive proof-of-work mining of cryptocurrencies in Norway has been rejected by the majority of lawmakers. The ban had been suggested by the far-left Red Party which also didn’t win backing to raise an electricity tax for crypto miners.The parliament of Norway has considered and voted against a draft law banning the minting of digital currencies based on the proof-of-work concept.
However, as Marhaug pointed out, the majority in the Storting, Norway’s legislature, wants to prioritize the market, and “give the bill to Norwegian electricity consumers.” While households, many businesses, and the public sector currently pay 0.15 kroner per kilowatt-hour of spent electricity, the industry, including data centers, enjoys a reduced levy of just 0.0055 kroner per kWh.
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