Sweden Expects to Attract Hoards of Norwegian Bitcoin Miners After Brutal Tax Hike

Sweden Expects to Attract Hoards of Norwegian Bitcoin Miners After Brutal Tax Hike

With Norway set to revoke electricity subsidies for cryptocurrency miners from January 2019 onward, Swedish data centers are anticipating a wave of inquiries from mining companies seeking to domicile in Sweden.

Data Centers See Demand from Miners Leaving Norway

Swedish Municipality of Boden Seeks Miners

“It is clear that … we are becoming very attractive,” Svensson said in reference to Norway’s revoked subsidies. “This is about … big money … and it’s definitely going to make it cheaper here.”

When asked if he will reach out to miners based in Norway, Svensson stated: “I think the companies in Norway are contacting us, they know where we are.”

Svensson also emphasized the potential benefits that increased investment from mining companies could bring to the locality. He estimated that there are “a few hundred people” currently employed by data centers in Boden. “As a result of revenue and activity in the municipality, we have started building Boden Business Park, where we will create hundreds of jobs,” he added.

Bitmain Reportedly Eyeing Sweden

“Government policy [is] push[ing] the industry out of Norway,” said Julie Hvideberg, the head of the company’s Norwegian operations. “We are a global company and can move to Sweden or Denmark, but our Norwegian partner loses a big contract.”

Share your thoughts, add a comment!

You must be logged in in order to place a comment.

Article comments

Loading...
No comments yet, be the first to comment this article