Crypto Game
  • Advertise
  • Submit a Press Release
  • Contact Us
Blockchain & Cryptocurrencies Tabloid
  • Finance & Blockchain News
  • Bitcoin News

    Michael Saylor Predicts Bitcoin to Reach $13M by 2045

    Bluebird Mines Gold Revenue for Bitcoin Treasury

    MicroStrategy Upsizes IPO to $1B for Bitcoin Purchase

    Trump Media Plans $12 Billion Bitcoin Investment

    Trump Media Raises $12 Billion for Bitcoin Acquisition

    Strategy Increases Stock Offering to Acquire Bitcoin

  • Altcoin News
    • All
    • Bitcoin Cash
    • Cardano
    • EOS
    • Ethereum
    • Litecoin
    • Monero
    • Ripple
    • Stellar

    ETH/BTC Ratio Tests Key 2021 Bull Market Support

    Solana Faces $50M Long Squeeze Amid Rally Speculation

    Solana Long Squeeze Sparks Potential Rally to $300

    Coinbase to Delist Four Crypto Assets in June

    Elon Musk’s X Partners with Polymarket for Prediction Platform

    Bittensor Achieves Record 118 Active Subnets in Decentralized AI

    Trending Tags

    • Ethereum
    • Bitcoin Cash
    • Litecoin
    • Monero
    • Ripple
  • Crypto 101
    • All
    • Cryptocurrencies
    • Exchanges
    • Services
    • Wallets
    Benefits Of Choosing the Right AI Trading Bot

    4 Benefits Of Choosing the Right AI Trading Bot

    Crypto Trading

    A Beginner’s Guide to Crypto Trading: Unlocking the World of Digital Coins

    BitcoinGames.com

    BitcoinGames.com Introduces the Ultimate Casino Gaming Experience with Bitcoin

    How AI is Helping Athletes and Fans Get the Most out of the Game

    From Training to Judging, AI is Entering the Ring

    Top 5 Websites for Buying Gift Cards with Crypto

    Clutch Savours – Gift Certificates You Can Buy with Crypto

    Layer 2 Blockchains

    Everything You Need To Know About Layer 2 Blockchains

  • Blockchain Events
No Result
View All Result
Blockchain & Cryptocurrencies Tabloid
No Result
View All Result

Noway Set to End Subsidy Placed on Bitcoin Miners Electricity Bills

Joshua T. by Joshua T.
November 22, 2018
in Latest News
bitcoin miners

A previous report made it known that the government of Noway has granted subsidy to bitcoin miners located in the country. However, based on a recent report, the same government has scrapped the same subsidy.

Bitcoin Miners to Pay Normal Rate by 2019

According to the source of the report, the country has made it known that as from next year, 2019, bitcoin miner in the country will start paying for their electricity at the normal rate.
Currently, all large mining firms located in the country are placed on a reduced electricity tariff, just like other power-intensive industries in the country.
In the existing payment plan, large mining firms with a capacity of more than 0.5 megawatts are charged only 0.48 øre ($0.00056) per kilowatt hour instead. Comparing this to the standard rate of 16.58 øre ($0.019), this is a huge discount for the mining firms. Going by this figure, large-scale miners in the country are paying just 2.8 percent of the standard rate to power their rigs.

According to the Norwegian parliamentary representative Lars Haltbrekken, the country is no longer ready to support bitcoin mining as it considers them a slap against its moral conduct. This was confirmed in a statement he made recently. He stated that: “Norway cannot continue to provide huge tax incentives for the dirtiest form of cryptographic output like bitcoin. It requires a lot of energy and generates large greenhouse gas emissions globally,”

Once the new rate comes into effect, miners will have to pay more to mine. As a result of this, the profit margin will be way lesser than what it used to be. This is expected to send these miners packing. Eventually, most of them will move to nearby countries.

Norway is Playing a Gambling Role with its Credibility

The ICT community in the country has however spoken out against this decision by the government. A comment was also issued by the chief economist of tech industry interest body, ICT Norway, Roger Schjerva. He stated that:

“This is shocking. Budgets have changed framework conditions without discussion, consultation or dialogue with the industry. Norway scores high on rankings of political stability and predictable framework conditions, but now the government is playing a gambling role with its credibility.”

Previous Post

Zcash Review: Things to Know Before Investing in ZEC

Next Post

Japanese Shipping and Logistics Company Set to Launch a Stablecoin

Joshua T.

Joshua T.

Related Posts

Crypto ETF Issuers Urge SEC To Reinstate First-To-File Rule

by Solomon M.
June 7, 2025

VanEck, 21Shares, Canary Capital urge SEC to return to first-to-file rule for ETF approvals.

Crypto ETF Issuers Request SEC’s First-To-File Rule Reinstatement

by Solomon M.
June 7, 2025

VanEck and others urge SEC to restore first-to-file rule for crypto ETFs.

Crypto ETF Issuers Urge SEC for First-to-File Rule

by Solomon M.
June 7, 2025

VanEck, Canary, and 21Shares push SEC to restore first-to-file rule for ETF approvals.

ETF Issuers Urge SEC for First-To-File Reinstatement

by Solomon M.
June 7, 2025

Crypto ETF issuers VanEck, Canary, 21Shares request SEC elevate first-to-file rule.

VanEck and Partners Challenge SEC on ETF Approval Process

by Solomon M.
June 7, 2025

VanEck, 21Shares, and Canary Capital urge SEC to return to first-to-file ETF rule.

Gemini Submits S-1 for a Confidential US IPO

by Solomon M.
June 6, 2025

Gemini files confidential S-1 with SEC for an IPO, following Circle's NYSE debut.

We Recommend

Top Rated Casinos
Bitstarz Casino

BitcoinCasino.io
Top Crypto Betting
1xBit.com
Top Rated Exchanges
Binance Exchange

Bityard.com
Top Advertising Services
Coinzilla Display Network
Top Crypto Wallets
Ledger Nano X

  • Terms and Conditions
  • Privacy Policy
  • Advertise
  • About Us
  • Contact Us

© 2018-2019 theccpress.com by Brantell Media.

No Result
View All Result
  • Finance & Blockchain News
  • Bitcoin News
  • Altcoin News
  • Crypto 101
  • Blockchain Events

© 2018 - 2019 theccpress.com, a Brantell Media project.

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