{"id":946,"date":"2018-11-23T14:32:52","date_gmt":"2018-11-23T14:32:52","guid":{"rendered":"https:\/\/icoholder.com\/blog\/?p=946"},"modified":"2025-06-11T17:09:21","modified_gmt":"2025-06-11T17:09:21","slug":"norway-ends-electricity-subsidies-for-bitcoin-miners","status":"publish","type":"post","link":"https:\/\/icoholder.com\/blog\/norway-ends-electricity-subsidies-for-bitcoin-miners\/","title":{"rendered":"Norway Ends Electricity Subsidies for Bitcoin Miners"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_75 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/icoholder.com\/blog\/norway-ends-electricity-subsidies-for-bitcoin-miners\/#Energy_Subsidy_Changes_Impact_Miners\" >Energy Subsidy Changes Impact Miners<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/icoholder.com\/blog\/norway-ends-electricity-subsidies-for-bitcoin-miners\/#In_conclusion\" >In conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<p data-pm-slice=\"1 1 []\">As Bitcoin continues its downward spiral, miners in Norway face a new challenge. Norway ends electricity subsidies for cryptocurrency mining, adding pressure to an already struggling industry.<\/p>\n<p>Local media reports say that starting in January 2019, Bitcoin miners will pay the country\u2019s standard electricity tax. Their previous discount was removed from the state budget agreement.<\/p>\n<p>Northern Bitcoin, a German-based mining company that also operates in Norway, says the average cost of mining a Bitcoin in the country is $7,700. The company claims it can mine Bitcoin and other digital assets more cheaply in Norway, using fjord-based cooling and renewable energy.<\/p>\n<p>Lars Haltbrekken, a Norwegian parliamentary representative, commented on the decision.<\/p>\n<p>\u201cNorway cannot continue to provide huge tax incentives for the dirtiest form of cryptographic output like Bitcoin,\u201d he said. \u201cIt uses enormous energy and causes significant greenhouse gas emissions worldwide.\u201d<\/p>\n<h3 data-pm-slice=\"1 1 []\"><span class=\"ez-toc-section\" id=\"Energy_Subsidy_Changes_Impact_Miners\"><\/span>Energy Subsidy Changes Impact Miners<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Presently, Bitcoin data centers and miners share the same discount given to other industries that use intensive power. What this means is that \u201cthose with a capacity of more than 0.5 megawatts pay 0.48 Krone ($0.05) per kilowatt.\u201d From next year, this figure is expected to increase to 16.57 Krone per kilowatt.<\/p>\n<p>Not surprisingly, this news has not gone down well with everybody. The tech industry in Norway has made their disapproval about the subsidies changes known, while simultaneously asking for support from the government.<\/p>\n<p>Roger Schjerva, the chief economist of ICT Norway, described the development as \u201cshocking.\u201d In his words, \u201cBudgets have changed framework conditions without discussion, consultation, or dialogue with the industry. Norway scores high on rankings of political stability and predictable framework conditions, but now the government is gambling with this credibility.\u201d<\/p>\n<p>On the other hand, there are others who are delighted with the subsidies removal. One of them is Jon Ramvi, the Chief Executive of Blockchangers, which is a blockchain advisory group based in Oslo. According to Ramvi, \u201cThis is a win for the Norwegian people and our natural resources. Less mining in Norway will reduce the prices of electricity for companies and people residing in Norway, meaning that we reap the benefits of these resources locally instead of giving it away to Bitcoin miners.\u201d<\/p>\n<h3><span class=\"ez-toc-section\" id=\"In_conclusion\"><\/span>In conclusion<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p data-pm-slice=\"1 1 []\">Norway ends electricity subsidies as<a href=\"https:\/\/icoholder.com\/blog\/blockchain-interoperability-and-exchanges-key-to-crypto-success\/\"> Bitcoin miners<\/a> in the country face new challenges. The government has moved to put a stop to electricity subsidies for both Bitcoin and cryptocurrency miners. Effective from January 2019, miners will have to pay the normal electricity tax after the removal of their discount in the state budget agreement.<\/p>\n<p>Subscribe to ICOholder\u2019s newsletter to keep up with the latest developments in the crypto industry.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As Bitcoin continues its downward spiral, miners in Norway face a new challenge. Norway ends electricity subsidies for cryptocurrency mining, adding pressure to an already &hellip; <\/p>\n","protected":false},"author":4,"featured_media":8206,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[],"class_list":["post-946","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Norway Ends Electricity Subsidies for Bitcoin Miners<\/title>\n<meta name=\"description\" content=\"Norway ends electricity subsidies, forcing Bitcoin miners to pay full electricity tax starting January 2019 - IcoHolder.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/icoholder.com\/blog\/norway-ends-electricity-subsidies-for-bitcoin-miners\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Norway Ends Electricity Subsidies for Bitcoin Miners\" \/>\n<meta property=\"og:description\" content=\"Norway ends electricity subsidies, forcing Bitcoin miners to pay full electricity tax starting January 2019 - 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