Sweden Expects to Attract Norwegian Bitcoin Miners After Brutal Tax Hike

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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

Local media outlets have reported that Sweden’s data centers expect a wave of interest from miners leaving Norway, following reports that the government will repeal electricity concessions. As of January 2019, miners operating in Norway will have to pay the equivalent of $0.019 per kilowatt-hour (kWh), up from approximately $0.0056/kWh under the current subsidies. By contrast, Swedish data centers reportedly pay the equivalent of about $0.0055/kWh.

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