Icelandic Prime Minister Katrín Jakobsdóttir expressed in an interview that he hopes to shift the country's renewable energy from the crypto mining industry to households and other industries in Iceland, saying that "Bitcoin is a global problem... Data center usage in Iceland" a large part of green energy.”
The price of Iceland’s 100% renewable electricity is not affected by global fuel price fluctuations, making the country an attractive destination for cryptocurrency miners. However, crypto mining is not expected to grow in the country as electricity becomes increasingly scarce amid high demand and few new power plants are being built, according to research firm Luxor. (FT)