According to local Monday reports, Norway is considering new legislation to govern data centers around the country and offer supervision over BTC miners’ activity. This groundbreaking ruling mandates data centers to reveal information on their owners, leaders, and digital services, making Norway the first European country to implement such a comprehensive system.
Though cryptocurrency mining in Norway has previously been unlicensed, this development may boost scrutiny, particularly among Bitcoin miners. As the Bitcoin halving strategy reduces block rewards in half, concerns increase. The new legislation makes it more difficult for Bitcoin mining firms to remain profitable.
The legislation aims to offer Norwegian authorities with a better understanding of data centers in their municipalities, allowing them to make informed judgments on whether to accept or reject their operations. Terje Aasland, Norway’s minister of energy, highlighted that the government wants to deter corporations that are only interested in exploiting the country’s cheap energy supplies.
Markus Thielen, the head of research at 10x Research, thinks that Bitcoin miners may liquidate $5 billion worth of Bitcoin in the months following the halving, highlighting the industry’s rising challenges.
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