Norway is set to implement new legislation aimed at regulating data centers nationwide and overseeing the activities of Bitcoin miners. The law mandates registration of all data centers with authorities and requires detailed information on services and ownership structure.
According to Energy Minister Terje Aasland, cryptocurrency-related data center businesses are not desired in Norway, with the government preferring serious actors important to society. The legislation comes amid concerns over the increasing electricity consumption of crypto mining operations, particularly in Northern Norway.
The country’s focus on responsible energy use aligns with its abundance of hydropower and renewable energy sources. However, the legislation could pose regulatory challenges for BTC miners, potentially affecting their ability to obtain permits for new operations or expansions.
The legislative developments coincide with concerns surrounding Bitcoin mining ahead of the upcoming halving event. 10x Research warns that miners could liquidate up to $5 billion, while Coincodex predicts an optimistic market sentiment leading up to and post-halving.
