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Bitcoin’s green haven is running out of surplus electricity
The Nordic region is facing a renewable energy crunch as heavy industries and bitcoin miners compete for clean power
By Ragnhildur Sigurdardottir, Lars Paulsson and Jesper Starn / Bloomberg
The Nordic region is losing its edge in green bitcoin mining, just as the industry faces growing scrutiny for its carbon emissions and everyone from Tesla Inc chief executive officer Elon Musk to mom-and-pop investors pile in.
Iceland, Sweden and Norway have been popular mining locations because of an abundance of geothermal, hydro and wind power. China, where most coins are mined, relies mainly on coal. That Nordic power surplus is set to dwindle as aluminum smelters, oil rigs and steelmakers thirst for renewable energy. ....

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