One Norwegian Bitcoin Miner Boasts 99% Renewable Energy Statistics, It Even Uses Waste Heat To Dry Wood, Plans To Use Seaweed
Norway is a bastion of renewable energy management in Europe – up to 99% of energy in Norway is generated by hydropower, while there is often an excess of “green energy” in the grid
At the Kryptovault mining farm, the hot air generated by bitcoin mining rigs is recycled and used to dry logs
Kjetil Hove Pettersen, CEO of Kryptovault, said that Norway is “an ideal place for mining” and along with log drying, seaweed drying will begin in the first half of 2022
Norway has a lot of “locked” energy, Pettersen says, indicating much higher production compared to consumption.
It appears that the removal of electricity subsidies to bitcoin mining farms in 2018 did not affect the status of the Scandinavian country as a popular cryptocurrency mining destination