The Norwegian government, led by the Labour Party, intends to impose a temporary ban on new cryptocurrency mining data centers that utilize energy-intensive proof-of-work systems, as reported by Reuters. If approved, the proposed rule is expected to come into effect in autumn 2025, with the goal of preserving electricity capacity for more productive sectors. According to Minister for Digitalization Karianne Tung, 'Cryptocurrency mining is highly power-intensive and generates limited job opportunities and income for local communities,' highlighting the government's intention to restrict cryptocurrency mining in Norway as much as possible.
Norway, known for its abundant renewable hydropower resources, has long been an attractive location for Bitcoin miners seeking affordable, clean energy. Companies such as Kryptovault have established operations near Oslo, operating data centers with capacities of up to 40 MW, and using excess heat to dry wood or warm nearby buildings.
Despite the renewable energy backdrop, mining farms require continuous, high-capacity power resources, which regulators increasingly believe would be better utilized for manufacturing, heating, or artificial intelligence data processing.