• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Upcoming Events
    • TMRW, Dubai (February 8-10, 2023)
    • European Blockchain Convention, Barcelona (February 15-17, 2023)
    • Blockchain Fest, Singapore (February 16-17, 2023)
    • Blockchain Economy Summit, London (February 27-28, 2023)
    • Paris Blockchain Week (March 20-24, 2023)
    • GAIN Expo, Amsterdam (May 4-5, 2023)
    • Blockchain Expo North America, Santa Clara (May 17-18, 2023)
    • COMEX, Oman (May 22-25, 2023)
    • BLOCK3000: Blockchain Battle, Lisbon (July 6-7, 2023)
    • NFT Show Europe, Valencia (July 14-15, 2023)
    • TOKEN2049, Singapore (September 13-14, 2023)
    • Blockchain Expo Europe, Amsterdam (September 26-27, 2023)
    • Future Tech Event, Oman (November, 2023)
  • Past Events
    • Event Horizon
    • Blockchain Life
    • BlockShow Europe

Crypto Reporter

Online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies


Join us on Telegram: https://t.me/crypto_reporter
Visit Paris Blockchain Week on March 20-24, 2023
  • News
    • News Feed
    • Cryptocurrencies
      • Bitcoin
      • Altcoins
    • Payment solutions
    • Exchanges
      • Binance
      • bitFlyer
      • Bitfinex
      • CBOE
      • CME
      • Coinbase
      • Coincheck
      • Coinfloor
      • Nasdaq
      • Poloniex
    • Regulations
      • Australia
      • Belarus
      • China
      • Europe
      • India
      • Iran
      • Israel
      • Japan
      • North Korea
      • Philippines
      • Portugal
      • Russia
      • South Korea
      • Thailand
      • Turkey
      • Venezuela
      • Vietnam
      • United States
    • Blockchain platforms
    • Crypto news in brief
    • Stats & trends
    • Reviews
      • Ambrosus
      • ATN
      • Dash
      • Green Power Exchange
      • Power Ledger
      • ShapeShift
      • Waltonchain
      • Cryptocurrency market capitalization can top 4 trillion USD, under conservative estimates
    • Opinion
    • Sponsored
  • Press Releases

Norway scraps electricity subsidy for crypto miners

November 26, 2018 By Vitali Maldashou

Authorities have decided to call off subsidies to cryptocurrency miners.

The Norwegian government is preparing amendments to the state budget, that will eliminate subsidised electricity to crypto miners, reports CoinDesk.

Starting January 2019, the price will go up from 0.48 øre ($0.00056) per kilowatt hour to the standard rate of 16.58 øre ($0.019). An øre is 100th of a Norwegian krone.

Some local politicians have voiced a concern that cryptocurrency mining is not environmentally friendly or cost effective. Lars Haltbrekken, Norwegian parliamentary representative, said the country can no longer provide incentives for “the most dirty form of cryptographic output like bitcoin”, which generates huge greenhouse gas emissions and requires too many resources.

Roger Schjerva, chief economist of tech industry interest body, ICT Norway, said the government had not consulted with mining companies regarding its decision. He argued that the new tariffs will push out a great deal of miners out of business.

Schjerva believes many firms will be relocating to neighbouring Sweden or Denmark, while the country will lose a good source of income.

Filed Under: General News, News Tagged With: cryptocurrency, Europe, mining, news, Norway, regulations

Primary Sidebar

Follow Us

Press Releases

Aptos Labs Makes Commitment to Web3 Innovation in Higher Education Through $50K Grant and New Advisor

February 6, 2023

Crypto Wild West: 85% of UK crypto firms fail to meet minimum FCA standards

February 6, 2023

NEAR Foundation and the NYU School of Professional Studies Collaborate on the Launch of a Web3 Learning Workshop for Students, Faculty, and Industry Partners

February 6, 2023

QIE Wallet & Web 3 Banking – The Entry Point to QI Ecosystem

February 6, 2023

Binance Trading Bot

February 5, 2023

TMRW

EBC 2023

Blockchain Fest Singapore 2023

Blockchain Economy London 2023

PBW 2023

GAIN Expo 2023

Blockchain Expo North America 2023

COMEX 2023

Blockchain Expo Europe 2023

Blockchain Expo Global 2023

Footer

Crypto Reporter is an online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies
About us
Contact us
Submit press-release

Search

2017-2023 Crypto Reporter