In the face of energy shortages, Sweden prefers steel production rather than Bitcoin mining
The Swedish government has asked the Energy Agency to track how much energy is used for digital infrastructure, paying particular attention to cryptocurrency mining. Energy Minister Farmanbar declined to say what measures he might take to limit mining.
Swedish Minister of EnergyHashayar Farmanbar said in an interview with Bloomberg that it is more important to provide electricity to job creation projects such as steel mills than bitcoin mining.
"To be honest, we need energy for more useful things than bitcoin," Farmanbar said.
Bitcoin miners manage a large number of energy-intensive devices and rely on cheap electricity rather than human labor.
Last month, the Swedish government asked the Energy Agency to track how much energy is used for digital infrastructure, paying particular attention to cryptocurrency mining, Bloomberg reports.
Farmanbar declined to say what measures he could take to limit mining. However, the report says that they may include the organization of such an order in which new consumers would receive priority access to the network in case they create additional jobs.
In November 2021, the Swedish markets regulator called for a ban on energy-intensive cryptocurrency mining, followed by a similar comment in January 2022 by the Vice-chairman of the European Securities and Markets Authority.
At the time of writing, two large mining companies are operating in Sweden - Hive Blockchain Technologies from Canada and Genesis Mining, registered in Hong Kong.
https://coin-signal.com/cryptonews/in-the-face-of-energy-shortages-sweden-prefers-steel-production-rather-than-bitcoin-mining/
#Bitcoin, #Cryptonews, #Energy, #Face, #Mining, #Prefers, #Production, #Rather, #Shortages, #Steel, #Sweden
#CryptoNews, #Mining