• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Nexo

Norway ‘Delighted’ to Welcome New Bitfury Mining Datacenter

Bitcoinist by Bitcoinist
4 years ago
in Bitcoin, Mining, News, News teaser
0

Bitcoin mining giant Bitfury has announced an “official partnership” with the Norway and local business leaders after meeting with government officials.


Norway Partners with BitFury for Bitcoin Mining

Bitfury, which develops both the software and the hardware solutions for mining businesses, has opened a new mining datacenter in the country of Norway. What’s more, Bitfury is planning on investing around $35 million USD worth into the project and  intends to hire about 30 local employees in Mo i Rana to run the datacenter.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The decision for Bitfury to expand into the Norwegian territory was formally announced at a press conference in Norway on March 20th.

Bitfury’s CEO, Valery Vavilov, noted:

Norway is a perfect match for Bitfury’s focus on innovation and growth. We look forward to identifying new customer relationships and designing the products and solutions they need to make their enterprises run more securely and efficiently.

Bitfury was also sure to remain mindful of environmental concerns as well, as mining facilities can consume enormous amounts of electricity. Thus, they also announced their decision to purchase 350 GWh of 1000% renewable energy annually to pursue the goal of sustainability.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Breaking news – Bitfury has officially partnered with the country of Norway to open a bitcoin mining datacenter in Mo I Rana! Our datacenter will run on renewable energy, reaffirming our commitment to bitcoin sustainability. Read more: https://t.co/MkzVsY4zIk pic.twitter.com/MapKTUhW9i

— The Bitfury Group (@BitfuryGroup) March 20, 2018

It remains to be seen whether this project will be one that moves the entire space forward, but, at the very least, it does say a lot about the untapped opportunities for cryptocurrency mining around the world. Norway is just another example that proves such. 

Norway Sees Potential in Bitcoin Mining

Unlike nations like Japan, which have imposed heavy tax regulations on cryptocurrencies, Norway’s tax policy by comparison is fairly liberal. In Norway, crypto traders and investors must pay a 25% capital gains tax, but losses can be written off.

Also, apart from this codification of tax law in Norway, there appear to be no other apparent or impending regulations against Bitcoin in Norway.

Thus, as Vavilov noted, the cryptocurrency regulation presently in place in Norway makes a land fertile for the growth of blockchain projects.

Prior to the press conference, Torbjørn Røe Isaksen, Norway’s Minister of Trade and Industry, issued a statement welcoming Bitfury to Norway. He said:

I am delighted that the Bitfury Group has chosen to establish their new data center in Norway and Mo i Rana. Data will become an increasingly important resource for the business community as well as for society in general. This represents a major economic opportunity for Norwegian businesses. The datacenter industry is growing fast, and provides Norway with opportunities of economic growth and new jobs.

Will more countries attempt to lure Bitcoin miners to boost their economies? Share your thoughts below!


Images courtesy of Shutterstock, Bitfury, Twitter

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Bitcoinist

Bitcoinist

Bitcoinist is the ultimate news and review site for the crypto currency community!

Related Posts

bitcoin BTC Stellar XLM

Why Mercado Bitcoin and Stellar Will Explore A Brazilian CBDC

2 hours ago
NFT

NFT Project Milady’s Charlotte Fang Accused Of Racism And Homophobia

10 hours ago
Follow The Money screenshot

Let’s Dissect The “Follow The Money #1” Documentary, Pt. 1- Salvadoran Confusion

12 hours ago
Magic Johnson

Magic Johnson Unveils NFTs Showcasing The Basketball Legend’s Iconic Moments

13 hours ago
Peter McCormack screenshot

Wright Vs. McCormack, The Bitcoin Trial Of The Year Began In London

17 hours ago
Bitcoin BTC BTCUSD

Rich Dad Author Recommends Bunkering Down With Food, Guns, And Bitcoin

1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.