Norwegian Government Revokes Electricity Subsidies for Crypto Miners

[kreslik.news]

The Norwegian government has taken action to end subsidies for electricity purchased by Bitcoin mining companies, according to a report y local news source Afterposten on Nov. 21st. Previous to the subsidies’ end, mining firms paid the equivalent of just $0.05 per kilowatt; starting in January, they will have to pay the equivalent of $1.94 per kilowatt–a whopping 3880 percent increase.

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“Norway cannot continue to provide huge tax incentives for the dirtiest form of cryptocurrency output,” said Lars Haltbrekken, a member of the country’s Socialist Left ... (read more)