Thanks to its stranded hydropower, Norway has become the biggest #bitcoin mining hub in Europe. But what else defines the bitcoin mining industry in this Arctic outpost?🇳🇴
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Jaran Mellerud
@JMellerud
NorwayJoined July 2020
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Bitcoin Mining Report 2022 + Global forecast
Convo summary ( )&
On The Mining Pod
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And if you believe the answer is 6.25 BTC, what is then the block subsidy?
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When you make a selection it cannot be changed
6.25 BTC + any fees
6.25 BTC
560 votes16 hours left
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This should be a banger - make sure to set that reminder and jump in!
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Join us Feb 8th for a discussion on #Bitcoin mining. 
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Jaran is back with the 2nd country on the new mining series.
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Thanks to its stranded hydropower, Norway has become the biggest #bitcoin mining hub in Europe. But what else defines the bitcoin mining industry in this Arctic outpost?
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- Paraguay35.6%
- Iceland36.3%
- Thailand28.1%
160 votesFinal results
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Europe's energy crisis didn't start in 2022.
It started many years ago when policymakers decided it was a good idea to replace reliable coal and nuclear power with windmills.
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The Norwegian government is not a big fan of #bitcoin mining.
In 2023, they increased the miners' power tax by $0.014 per kWh.
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Norway's grid operator estimates that power prices will stay low in northern Norway, at least until 2027.
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Due to transmission constraints, Norway has split its electricity market into five price zones.
As you can see on the chart below, electricity is only cheap in the middle and northern parts of the country.
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Due to colossal power electricity price differences between regions, all #bitcoin miners in Norway operate in the middle and northern parts of the country, enjoying abundant stranded hydropower.
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Norway is an electricity powerhouse, generating the second-most electricity per capita globally in 2021.
In 2021, hydropower generated 92% of the country’s electricity, while 7% came from wind.
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Due to colossal power price differences between regions, all bitcoin miners in Norway operate in the middle and northern parts of the country, enjoying abundant stranded hydropower.
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The most prominent multinational #bitcoin miners operating in Norway are Bitfury, COWA, Bitzero, and Bitdeer, while locals include Kryptovault and Arcane Green Data.
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I estimate the Norwegian bitcoin mining industry to consume around 250 MW.
This power consumption should equal a Norwegian share of the global hashrate production of almost 3%.
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Stay tuned for a similar article on #Bitcoin mining in Norway🇳🇴
Will publish it later today. Subscribe to our newsletter to not miss it: hashrateindex.com/blog/
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Thanks to its stranded hydropower, Sweden has become one of Europe's last #bitcoin mining refuges. But what else defines the bitcoin mining industry in this Arctic outpost?
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Or you can overclock and achieve more than 200 TH/s.
The choice is yours with LuxOS.
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Antminer S19 XP with LuxOS.
19 j/TH🤯
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Replying to @hash_bender and @LuxorTechTeam
You don't always have to hash it fast.
In fact, some times that's not right, to do...
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Look at me. I'm a windmill. I only produce energy when the wind blows. I'm going to replace baseload coal and nuclear power.
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Europe's energy crisis didn't start in 2022.
It started many years ago when policymakers decided it was a good idea to replace reliable coal and nuclear power with windmills.
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#Bitcoin network hashrate is about to breach its ATH of 267 EH/s on the 4,320 blocks (30D SMA) estimate.
> data.hashrateindex.com/chart/bitcoin- ⛏️
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We're now almost 50 people dedicated to maximizing hashprice globally, by building on the concept that #Bitcoin computing power is a new commodity. 🌍🌎 🙌
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My Ukrainian mother-in-law told me that in the Soviet days, she used bedsheets, towels, and wine glasses as a store of value.
If only #Bitcoin existed at that time.
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My Ukrainian mother-in-law told me that in the Soviet days, she used bedsheets, towels, and wine glasses as a store of value.
If only #Bitcoin existed at that time.
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For those who wonder, I also invest in stocks and ETFs and have owned physical gold.
I'm most bullish on the natural resource sector (energy, precious metals, basic materials).
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And no, I'm not saying bitcoiners should invest in shitcoins. Stay the hell away from them.
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It was super good to have the opportunity to Googlemeet
With of LuxorTechTeam & this past week; he certainly has a strong understanding & passion for hydro energy & everything bitcoin.
⛏ #Bitcoin
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My wife was not happy to see Giorgi setting up a #bitcoin mining farm in the middle of the living room.
But Giorgi is too adorable, so she can't stay angry at him for that long.
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Giorgi just plugged in two S9s in his new mining facility.
And no, he is not mining Dogecoin. He is mining #bitcoin.
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The last 6 months in #bitcoin mining have been dominated by headlines of distressed miners, defaults, and bankruptcies. But few understand how we got here
In a series for , I explore the past, present, and future of debt in the industry
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