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Author: Admin | 2025-04-27
Norway has recently become Europe’s largest Bitcoin mining hub thanks to its cheap energy. But is there another reason for miners to develop mining operations in that arctic land of oil and cod?Digital gold rush – why are Bitcoin miners heading to Norway?Why do Bitcoin miners rush to certain countries and avoid others? Which countries have the most potential for developing new mining operations?Bitcoin mining is a weird industry. Miners from all over the world centralize their mining farms in specific countries, and if the situation changes, the group instantly packs their graphics cards and moves to the next location.So why Norway? One reason is the cheap energy. Bitcoin mining is such an energy-intensive business that the price has a considerable impact on the business’s profitability.European mining giants have settled in NorwayAccording to a report by Norwegian analytics and research company Arcane Research, Norway has grown into a thriving Bitcoin mining industry despite its small population and geographical location.Many of Europe’s largest Bitcoin mining companies have started operations in Norway. Among the mining giants who moved to Norway are, e.g. Northern Data, COWA, Bitdeer, and Bitzero. There are also some smaller local mining companies in the land of fjords, such as Kryptovault and Arcane Green Data.How did Norway become the promised land of Bitcoin mining?In the past few months, European digital gold miners have rushed to Northern Europe like it was Klondike back in the 1800s.Norway currently has a vast amount of mining in relation to the country’s small size.
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