The island nation is the first to exhaust more electricity on mining cryptocurriencies than on its households – thanks in part to its magma-fuelled power plantsBitcoin’s price may be down more than 50% from its highs in December,but no one has told Iceland, where the cryptocurrency and its offspring are reshaping the economy.
According to Johann Snorri Sigurbergsson, and an employee of the energy company HS Orka,Icelandic cryptocurrency “mining” is likely to double its energy consumption to approximately 100 megawatts this year. That is more than households exhaust in the nation of 340000 people, according to the national energy authority.Continue reading...
Source: guardian.co.uk