Cryptocurrency mania might have gone a little too far in Iceland. The region’s energy company says Bitcoin mining is becoming so popular that the country will likely use more electricity to mine coins than power homes this year.
That could cause problems, though, as officials warn they won’t have sufficient energy to supply the number of proposed Bitcoin mining centers (if those facilities do indeed open).
“If all these projects are realized, we won’t have enough energy for it,” Johann Snorri Sigurbergsson, a spokesman for Icelandic energy firm HS Orka, told the BBC. Iceland has become a haven for cryptocurrency miners in part because of its cheap electricity.
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