Norwegian authorities intend to abolish electricity privileges for miners. The relevant amendments to the state budget have been prepared in the government of the country.
Thus, the Norwegian government cancels to provide electricity with the preferential conditions for cryptocurrency miners. The amendments will take effect on January 1 of the following year. The cost of electricity for this category of consumers will grow from NOK 0.48 to 16.58 NOK, that is thirty-four times.
According to media reports, the initiative is justified by the fact that local politicians consider cryptocurrency mining as a non-environmentally friendly activity that requires high costs and energy. It is also noted that according to representatives of the country’s IT industry, the authorities have not consulted mining companies on this matter. As the opinions of industry experts were passed on to publications, mining companies may move to neighboring countries due to rising electricity bills, which will deprive Norway with a source of income.