The Norwegian government is contemplating a temporary suspension of new Bitcoin mining operations starting in autumn 2025. This move is driven by rising energy costs and the need to optimize energy use.
Official Government Position
Energy Minister Terje Aasland has formalized the government’s stance, declaring this a significant turning point in Norway’s energy strategy. The focus is primarily on the most energy-consuming technologies, particularly cryptocurrencies that operate on a proof-of-work basis, with Bitcoin being at the forefront. This measure highlights the growing regulatory pressure on the crypto sector.
Energy Challenges and Their Impact
The surge in energy prices in Norway has become one of the main factors driving changes in government policy. The country, once advantaged by its hydroelectric power, is now facing an energy crisis in Europe. The authorities are prioritizing "socially useful" uses of electricity, favoring traditional data centers and AI applications while relegating the mining industry to the background.
Global Consequences of the Ban
The ban on new projects in Norway could impact not only the domestic market but also international trends in cryptocurrency regulation. This move is observed against the backdrop of changes in other countries, such as the exodus of miners from China to the US following strict regulatory measures. Norway may serve as an example for other European countries considering similar action.
The introduction of a temporary ban on cryptocurrency mining in Norway could significantly impact the sector, while underscoring the growing need to optimize energy resource usage amidst a global energy crisis.
