Bitcoin and mining operations in Iceland were mentioned by Prime Minister Katrín Jakobsdóttir in her remarks.
In a recent interview, Icelandic Prime Minister Katrín Jakobsdóttir said that the government intends to put food security ahead of financial gain.
Recent demonstrations by European farmers and trade disruptions have brought attention to the need for the Scandinavian nation to decrease its reliance on imports, prompting this move.
Jakobsdóttir stressed the significance of agriculture in security and safety plans, notwithstanding the difficulties of farming in Iceland due to the abundance of glaciers throughout the nation. “Farming in Iceland isn’t simple. Equally unimpressive are the fields. But farming is a big part of our plan for safety and stability in the world,” he said.
The island has become a data center paradise for energy-hungry Bitcoin miners; therefore, efforts to ensure food security are happening simultaneously with these efforts. Jakobsdóttir voiced her displeasure that Bitcoin mining facilities were soaking up so much of Iceland’s renewable energy and proposed redistributing the power to other areas, such as housing.
“Although Bitcoin is an issue on a global scale, a large amount of Iceland’s renewable energy goes toward powering data centers in the country. A new plan to increase wind power will “prioritize” environmentally conscious businesses in their pursuit of carbon neutrality. This mission does not include Bitcoin and other cryptocurrencies, which need a lot of energy.”
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