Bitcoin industry giant Bitfury is opening a fresh bitcoin mining center te Norway, bringing investments and jobs te a budge that has “delighted” the country’s government.
Te an announcement on Tuesday, the BitFury Group exposed details of its expansion into Norway with – what it deems – a sustainable, energy-efficient ‘datacenter’ te a foray backed by the government.
Violating news – Bitfury has officially partnered with the country of Norway to open a bitcoin mining datacenter te Mo I Rana! Our datacenter will run on renewable energy, reaffirming our commitment to bitcoin sustainability. Read more: https://t.co/MkzVsY4zIk pic.twitter.com/MapKTUhW9i
Bitfury is investing about 274 million NOK (35 million USD) toward the datacenter that will be located te the town of Mo I Rana, a major town ter Northern Norway. Around 30 jobs are expected to be created locally.
Te welcoming the cryptocurrency stiff to the country, Norway’s Minister of Trade and Industry Torbjorn Roe Isaksen said:
“I am delighted that the Bitfury Group has chosen to establish their fresh gegevens center ter Norway and Mo I Rana…. This represents a major economic chance for Norwegian businesses. The datacenter industry is growing quick and provides Norway with opportunities of economic growth and fresh jobs.”
Bitfury contends the datacenter will run on a power usage effectiveness (PUE) of 1.05 or lower, listing it among the world’s most energy efficient mining operations. To fuel its production, Bitfury is purchasing 350 Gigawatt hours (GWh) of 100% hydroelectric renewable energy from a local power supplier.
Norway’s open embrace of cryptocurrency mining firms is aided by the colder temperatures and access to renewable energy, along with a friendly tax code. Thesis factors will prove favorable to miners at a time when crypto mining is under scrutiny for its energy-intensive appetite.
For example, the state of Fresh York’s public utility regulator recently granted local power suppliers the capability to charge higher tariffs for crypto mining firms ter the state.
Not so te Norway, where the country’s industry minister has a markedly different treatment te dealing with crypto companies.
“It has bot significant for us to facilitate the opening of more gegevens centers te Norway,” he added, ter quotes reported by Norwegian state-owned publication NRK. “We have green power, so this can create jobs and investments ter fresh technology.”