The low power bills along with a clampdown in China has made Iceland a hub fro cryptocurrency mining. At this pace the power consumption for crypto mining will outpace domestic power usage sometime this year.
Source: The Inquirer
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Im not even surprised...crypto mining takes tons of power and the farms generally have hundreds of GPUs just eating power.
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Just incredible the power consumption that crypto needs....interested to see how that evolves in the future?!
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This post has received a 0.63 % upvote from @drotto thanks to: @blockchainspoon.
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from what I reckon they use a lot os renewable power in Iceland, so if you setup your farm next to good stream you get free electricity ;)
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