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Norwegian Government to Temporarily Ban New Cryptocurrency Mining Data Centers

Norway's Labour Party government aims to limit cryptocurrency mining to conserve electricity and enhance sustainability, with a ban expected in autumn 2025.

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Summary

The Norwegian government has announced plans for a temporary ban on new cryptocurrency mining data centers, citing excessive electricity consumption and minimal economic benefits. Digitalization Minister Karianne Tung emphasized the need to redirect energy resources to other sectors. The investigation into this measure is set for autumn 2025, aligning with global trends of restricting energy-intensive mining operations due to sustainability concerns.

Terms & Concepts
  • cryptocurrency mining: The process of validating transactions and adding them to a blockchain, which requires significant computational power and energy.
  • data centers: Facilities used to house computer systems and associated components, such as telecommunications and storage systems, often requiring substantial energy for operation.
  • sustainability: The capacity to endure in a relatively ongoing way across various domains of life, particularly concerning environmental conservation and responsible resource management.