Moving forward, Norway will closely monitor the activities of data centers located within its territory. This action comes in response to the country’s recent announcement of plans to introduce new legislation that will oversee the data center industry.
According to a recent local news article, Norway’s Digitalization Minister, Karianne Tung, announced that this is the initial effort by her country to examine the crypto mining sector. Moreover, Tung stated that this is the first instance of any European nation proposing such a regulatory framework.
The report states that a new law mandates registration for all data centers in the country. Before registration, they need to submit details such as owner and manager information, plus the types of services they provide.
Officially, the new law isn’t solely about suppressing innovation. Instead, it serves as a means for the nation to assess whether proposed projects match its infrastructure goals or not. As Tung put it, “It’s not just about stopping innovation; it’s about guiding it towards our national objectives.”
“Our goal is to oversee the industry and prevent unwanted projects from moving forward.”
Norway’s Energy Minister Terje Aasland expressed agreement with this perspective. He stated that the new legislation enables Norway to gain a clear understanding of what types of services are provided in these data centers. “We aim to support socially beneficial data centers,” he emphasized. “They play a significant role in our infrastructure.”
Norway Data Centre Law: Trouble for Bitcoin Miners?
Based on the comments made by Tung and Aasland, it seems reasonable to assume that Bitcoin mining will likely be banned in Norway in the near future. Aasland specifically mentioned:
“Cryptocurrency… is an example of a type of business we do not want in Norway.”
Currently, Bitcoin mining companies have set up base in Northern Norway due to its affordably priced electricity. A notable example is Kryptofabrikken, which consumed nearly as much power as the entire Lofoten region in 2023, according to local media reports by Dagsavisen.
In simpler terms, while Norway hasn’t forced crypto mining companies out yet, new regulations will give local authorities the power to approve or deny data centers in their areas.
In addition, the latest comments from high-ranking Norwegian officials like Tung and Aasland could potentially indicate Norway’s position on crypto mining.
At the same time, Aasland provided some clarification regarding Norway’s data center legislation. He emphasized that the nation welcomes collaborations with data centers that positively contribute to its societal framework. An illustration of this would be those functioning primarily as storage facilities.
In simpler terms, the data center sector holds significant importance for Norway’s economic growth. Yet, due to lack of regulation in the past, there is a growing need for the government to assert greater oversight.
Read More
- CORE PREDICTION. CORE cryptocurrency
- Top gainers and losers
- SYS PREDICTION. SYS cryptocurrency
- KUNCI PREDICTION. KUNCI cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- CFG PREDICTION. CFG cryptocurrency
- Best coins for today
- DOGE PREDICTION. DOGE cryptocurrency
- THOR PREDICTION. THOR cryptocurrency
- STFX PREDICTION. STFX cryptocurrency
2024-04-15 17:57