New miners will not be able to start a business in Iceland

In Iceland, an electricity shortage has matured, leading to a ban on the supply of electricity to new mining companies. This decision was announced by representatives of Landsvirkjun - the main supplier of electricity in the country.

Recently, this company has lowered rates for the supply of electricity to industrial enterprises, including data centers, existing mining firms, factories and industrial associations. This attracted significant interest from business representatives.

However, customers who wanted to be serviced on a regular basis and in December 2021 submitted applications executed in accordance with all the rules, did not receive a positive response from Landsvirkjun. All requests were denied on December 7th.

The unpopular measures of the electricity supplier were forced to accept the difficult situation in the energy sector. In many reservoirs, water levels have dropped, which has led to a reduction in energy production at local power plants.

According to company representatives, an energy crisis is brewing in the country. The situation is a little saved by the fact that most of the miners (Hive Blockchain Technologies, Genesis Mining, Bitfury) built a business on cheap geothermal energy, but it is not enough to meet all needs.

We will follow the development of the situation. Read our news and subscribe to social networks. You can also start mining cryptocurrency using Hive OS service.

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