Norway has passed new legislation mandating official registration for all data centers operating within the country. This landmark decision requires data centers to disclose information about their owners, leaders, and the digital services they offer, making Norway the first European nation to establish such a comprehensive framework.
The legislation aims to provide Norwegian authorities with a better overview of data centers in their municipalities, enabling informed decisions regarding the acceptance or rejection of their operations. Terje Aasland, Norway’s minister of energy, emphasized that the government seeks to discourage businesses solely interested in exploiting the country’s inexpensive energy resources.
Though crypto mining in Norway has been unregulated, this shift may increase scrutiny, especially for Bitcoin miners. As the Bitcoin halving approach cuts block rewards in half, concerns grow. The new legislation poses an additional challenge to the profitability of Bitcoin mining operations.
Markus Thielen, the head of research at 10x Research, estimates that Bitcoin miners could liquidate $5 billion worth of Bitcoin in the months following the halving, underscoring the mounting pressures faced by the industry.
Also read: War and Crypto: Will Iran-Israel Crisis Swim or sink Crypto ahead of Halving?
