Sweden Needs Power for More Useful Things Than Bitcoin Mining, Energy Minister SaysConcerned about projected increase in electricity demand, the government in Sweden may turn its back on crypto mining, the country’s energy minister has indicated.
However, worried about its increased power consumption, the government in Stockholm has tasked the Swedish Energy Agency to estimate the energy usage in the digital space, especially crypto mining.
He admitted that crypto mining uses a lot of energy but pointed out that so do many other innovative technologies.
Among those that hope to benefit from curbing crypto mining are, for example, companies from Sweden’s steel industry.
“Is bitcoin mining what we should be using power for, when we can use it for making fossil-free steel, for example?
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