Bitcoin Mine Shutdown in Norway Leads to Higher Electricity Bills

• Residents of Hadsel, Norway face higher electricity bills after local Bitcoin mine shuts down.
• The mine's closure represents 20% of electricity provider Noranett's income.
• Residents complained about noise from the mining center.
• Local electricity bills could rise by NOK 2,500 to 3,000 annually.
• Bitcoin mining helps keep power prices lower for everyday people, says venture capitalist.
• Other towns in Norway have also experienced noise complaints about Bitcoin mining facilities.

Summary :
Residents of Hadsel, a Norwegian municipality, are facing higher electricity bills after successfully shutting down a local Bitcoin mine. The noise from the mining center had been disturbing many residents, leading to their campaign for its closure. However, the mine's shutdown has resulted in a loss of revenue for the local power company, which will now be compensated by increasing electricity bills. The closure represents around 20% of the income for electricity distribution provider Noranett. The average household in Hadsel could see an additional annual cost of approximately $235 to $280 USD. Climate tech venture capitalist Daniel Batten argued that this situation highlights how Bitcoin mining helps keep power prices lower for everyday people. The data center consumed about 80 gigawatt hours of electricity annually, equivalent to the usage of around 3,200 households. The mayor of Hadsel stated that the town will seek new projects to offset the reduced electricity consumption caused by the mining center's closure. This is not the first instance of complaints about Bitcoin mining facilities in Norway, as another municipality, Sortland, had similar noise complaints. In the American state of Arkansas, a bill imposing noise limits on crypto mining farms has passed and is expected to be signed into law by Governor Sarah Huckabee Sanders.

Sources :

- CoinTelegraph