Bitcoin miner not wanted in Norway
A Norwegian town is taking on all means necessary to keep Bitcoin miners from further establishing operations which entail vast amounts of energy being used, sparking concerns.
Recent Bitcoin mining developments in Sortland, Norway, have created controversy between residents, as the new processes related to mining for BTC have resulted in a multitude of noise complaints.
The controversy of performing their developments in utter silence is viewed by the Sortland Bitcoin miners as an unfair request, which have provided multiple benefits to the municipality over recent times with the creation of new jobs, using 100% renewable sources of energy and using wasted heat to dry out timber and seaweed for local businesses.
CEO of crypto trading business, Kjetil Hove Pettersen, debates it could be another media attention seeking plan aimed at Bitcoin and that it does not reflect all opinions.
In fact the CEO goes on to state that most grid owners are accepting of Bitcoin miners, as they manage to help balance grids as shown in Texas. In addition the narratives of Bitcoin miners ‘wasting’ and driving up energy prices are also false, created by the media simply to draw attention
Analyst Jaran Mellerud explains that the northern areas of Norway, where Sortland is located, have an electricity surplus due to little demand locally and restricted transmission capacity. Therefore, energy costs are in fact low and stranded hydropower is abundant.
Pettersen praises the benefits of Bitcoin mining such as the addition in revenue for local municipalities, lowering grid fees, earning income for the Norwegian treasury and last but not least securing the globe’s largest cryptocurrency.
Petterson believes the industry of Bitcoin has a lot of work to do in setting the record straight with unfounded myths and misconceptions, rather should be viewed as a lifeline to many around the globe.
Mellerud states that localities around the north of Norway should view Bitcoin mining as a means to refine local electricity, create jobs and income for the municipalities as they typically are the owners of power-generating businesses.
Despite the benefits listed, it is the negative narratives of Bitcoin mining that make the headlines.
