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# Iceland News

Iceland has been a hotbed for bitcoin and other cryptocurrency miners due to its very cold climate and the availability of cheap power supply. However, 2018 has seen a shift of interest from bitcoin mining to core blockchain ventures in the country, partly due to the slump in the price of...
After several reports and criticism of Bitcoin mining using electricity equivalent to all of Iceland’s households, the sector looks primed to create economic development and industry in the region. Bitcoin Miners Parlay a New Industry On July 4, 2018, Bloomberg reported Iceland is embracing Bitcoin mining farms and computing setups,...
Despite being a remote volcanic island, the economic implications of the cryptocurrency mining sector are proving vulnerable for Iceland. Iceland' Cryptocurrency Mining Industry The countries' reliance on cryptocurrency mining is now something that “cannot be excluded as a risk factor,” says finance minister Bjarni Benediktsson, who has expressed concern that if...
March 5, 2018 by at Bitcoin, Mining, News, Tech
In what has been coined the “big bitcoin heist,” 600 computers used for bitcoin mining have been stolen from data centers across Iceland. Authorities in that sparsely populated island nation on the Arctic Circle say that it’s the largest series of robberies ever to hit Iceland. Police there believe that...
February 27, 2018 by at Altcoins, Bitcoin, Finance, News
The Nordic island country, Iceland, got its first bitcoin ATM located inside a hotel in Hlemmur square, Reykjavik. The person behind introducing the crypto ATM is Bitcoin entrepreneur Jason Scott. The machine also supports multiple cryptocurrencies like bitcoin cash, ether, dash, litecoin, and zcash. The ATM is installed at the...
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