Norwegian town wants ‘noisy’ Bitcoin miners out, experts respond

A municipality in Norway is using all means necessary to avoid “energy-sucking” Bitcoin miners establishing further operations, citing noise complaints and energy concerns.

491 Total views

22 Total shares

Norwegian town wants 'noisy' Bitcoin miners out, experts respond

There’s a new Bitcoin (BTC) energy FUD in town: noise. In Sortland, a Norwegian municipality, locals are waging war on Bitcoin miners to thwart further BTC mining developments. Their latest protest against proof-of-work (PoW) mining is that it’s loud. 

It’s not enough that Bitcoin miners in Sortland use 100% renewable energy sources, create jobs and even use waste heat from the PoW process to dry out timber and seaweed for local businesses; they must do so quietly.

22d93063 f6f9 4f25 b62c 721217f9f023
Sortland (red) in the extremes of Norway. Source: Google

Kjetil Hove Pettersen, CEO at local KryptoVault, explained that it could be another case of media spin aiming at Bitcoin. He explained the situation to Cointelegraph:

“It is usually the negative voices that get the most media attention; this does not reflect on all local opinions.”

Pettersen detailed that grid owners are, in fact, happy to host Bitcoin miners–as Bitcoin miners help to balance grids (as recently shown in Texas)–and that “There is a political or social cost for being outspoken about that in today’s climate.” The false narratives that media create are not new, according to Pettersen:

“[…] The narrative that we are suppressing other industry establishments by using (the skeptics use the word “wasting”) so much energy, while in fact, the opposite is true. Sometimes we are accused of driving up the energy price, which also is not true.”

Arcane Research analyst Jaran Mellerud and regular Cointelegraph contributor explained: “Northern Norway has a massive electricity surplus due to little local demand and limited transmission capacity.” In the north of Norway, where Sortland is located, energy costs are very low, and stranded hydropower is, in fact, abundant.

Pettersen listed the benefits of Bitcoin mining as adding more revenue to local municipalities’ power grids while supporting grid balance; lowering the overall grid fees for consumers; creating jobs; earning income for the Norwegian treasury as Bitcoin miners pay taxes and finally, contributing to Norway’s national trade balance. That’s without mentioning the direct consequence of Bitcoin mining, securing the world’s largest cryptocurrency.

6de424d7 cbac 4465 901c 47f484f33b89
CSO at the Human Rights Foundation, Alex Gladstein visited Kryptovault and spoke of “positive externalities.” Source: Twitter

Pettersen conceded that the Bitcoin industry has “A lot of work to do in telling our story, and dispelling myths and misconceptions.” Bitcoin provides a lifeline to many around the world–particularly in the global south–but the narrative that Bitcoin mining uses more energy than neighboring Finland continues to compel mainstream media publications.

Related: Seven times Bitcoin miners made the world a better place

Similar to Pettersen, for Mellerud, it’s a question of storytelling and narratives. He sums it up succinctly, “Municipalities in northern Norway should appreciate Bitcoin mining as a way to refine the electricity locally.” He continued:

Bitcoin mining facilities create local jobs and increase the income for the municipalities as they often own the local power-generating companies.”

Unfortunately, narratives that demonize Bitcoin mining and energy consumption continue to make headlines. Noise could be next.

(Visited 1 times, 1 visits today)

READ:   Sudden crypto market drop sends bitcoin below $22,000
Only authentic Gist, News and Gossips around Nigeria.

Related Posts

dnata-and-menzies-deal-averts-industrial-action

Dnata and Menzies deal averts industrial action

Dnata catering staff and Menzies ground handlers have called off a vote on industrial action after securing pay rises and job security protections. The TWU’s national secretary, Michael Kaine, said the raise and improvements to job security would make a “huge difference” to workers who’ve been under “immense financial pressure”. The news also averts any

‘i-accept-being-ordinary’:-china’s-youth-are-turning-their-backs-on-hustle-culture

‘I accept being ordinary’: China’s youth are turning their backs on hustle culture

Crystal Guo says she typically works for about six months to a year before quitting.It’s what the 30-year-old describes as her new lifestyle of “intermittent working and persistent lying flat.” Young people in China are growing disillusioned and frustrated with work and life, and some are now turning their backs on a crushing hustle culture as

austin-remembers-prisoners-of-war,-service-members-deemed-missing-in-action

Austin Remembers Prisoners of War, Service Members Deemed Missing in Action

Secretary of Defense Lloyd J. Austin III met today at the Pentagon with former prisoners of war, families of military members missing in action and staff from embassies of nations. The DOD works with these groups to account for missing American personnel and commemorate National POW/MIA Recognition Day. “Every year on National POW/MIA Recognition Day

wallets-like-metamask-need-to-become-more-user-friendly

Wallets like MetaMask need to become more user-friendly

After Ethereum’s long-awaited Merge, it’s an ideal time to think about how we can also improve smart contracts. Essentially apps that run on blockchains, smart contracts are a vital component of our Web3 applications. But interacting with them remains quite dangerous, especially for non-developers. Many of the incidents where users lose their crypto assets are

air-new-zealand-to-receive-first-saf-shipment

Air New Zealand to receive first SAF shipment

A three-year-old Air New Zealand A321, ZK-NNB, as shot by Victor Pody Air New Zealand will next week receive its first shipment of sustainable aviation fuel derived from used cooking oil. The 1.2 million litre delivery, equivalent to fuelling 400 return flights between Auckland and Wellington, will be used to test the supply chain to

biden-white-house-just-put-out-a-framework-on-regulating-crypto-—-here’s-what’s-in-it

Biden White House just put out a framework on regulating crypto — here’s what’s in it

U.S. President Joe Biden walks from Marine One to the White House following a trip from Michigan, in Washington, U.S., September 14, 2022. Tom Brenner | ReutersThe Biden White House has just released its first-ever framework on what crypto regulation in the U.S. should look like — including ways in which the financial services industry should

Leave a Reply

Your email address will not be published.