- A bill banning energy-intensive mining for cryptocurrencies such as bitcoin was rejected by the Norwegian parliament on 10 May.
- The Communist Red Party, which wrote the bill, had the support of both the Green Party and the Socialist Left Party.
- The minority also attempted to create an electricity tax for energy-intensive cryptocurrency miners.
A bitcoin bill seeking to end energy-intensive cryptocurrency mining was rejected in Norway with a majority passed by the Norwegian parliament on May 10, according to a translated report from a local newspaper. e24,
The proposal was put forward earlier this March by the Red Party (Rodt), which formed in 2007 from the merger of the Red Electoral Alliance and the Workers’ Communist Party. The Red Party outlined one of its primary goals as achieving a classless society, and was supported by the Socialist Left Party and the Green Party.
“We are clearly disappointed with the majority here. In the future, we will electrify large sections of society. If we do not want to carpet Norwegian nature with wind power, we should really prioritize which power to use has to be done,” said Rod’s Sophie Marhag e24,
Merhoug continued to cite the need for far-left political parties to prioritize energy use through a standard central plan. In fact, at one point the Rødt party attempted to charge bitcoin miners above standard energy market prices.
Ordinary households, companies, and the public sector pay an electricity tax of $2.51 per kilowatt hour, with the industry lowering an electricity tax of about $0.07 per kilowatt hour.
“But it seems that the majority in Storting will prioritize the market, and will bill Norwegian electricity customers,” Marhag reportedly said.
The majority on the other side of the case reportedly stated that it is “in principle dubious to discriminate against data centers on the basis of a defined social benefit.”
People against the ban reportedly discussed the lack of confidence in the authority, saying, “It is no coincidence that the cryptocurrency experienced a particular boom in the wake of the financial crisis in 2008, when confidence in national and international banks and financial institutions declined. was on the level.”