As it stands, much of the world’s bitcoins are mined in areas like China, Canada and Kazakhstan. These three nations often boast particularly high energy prices, and the costs of mining bitcoin or other forms of digital currencies can run up hefty bills. Sweden and Norway are looking to provide new miners with alternatives and money-saving routes to help them garner all the new coins they’ll need to keep their businesses up and active.
Philip Salter – head of operations at Hong Kong-based Genesis Mining Ltd. – says that over the last three years, things have been rather difficult for miners all over the world. The costs of extracting new currency units were too much to bear during the tough times of 2018 and 2019, but now that the price of bitcoin has skyrocketed, all those who stuck around are doing quite well.