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Bitcoin-mining may overtake homes energy consumption in Iceland

In Iceland, bitcoin mining has entered the stage of "exponential" rise and this activity takes more and more energy resources of the country, local energy firm HS Orka reported.

This year, bitcoin mining is expected to hit 100 megawatts and is likely to exceed that of all Iceland's homes. The entire population of the island is only about 340 000 people.

In recent years, more new data centres have opened in the country, whose owners are attracted by the country's ecologically clean reputation. Almost 100% of Iceland's electricity comes from renewable sources.

This year, in Iceland The Moonlite Project will start working - it is a large data centre where various crypto-currencies, including Bitcoin, will be mined.

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