This decision was made against the background of the declining price of Bitcoin, due to which mining companies are forced to close due to lack of profit. According to a report, the Norwegian government has announced that the country's cryptocurrency miners will pay the usual electricity tax starting in the New Year.
Currently, mining companies in Norway pay 0.48 øre per kilowatt. From January 1, 2019, this amount will increase to 16.58 ore per kilowatt. (An øre is one hundredth of a Norwegian krone.)
Parliamentary spokesman Lars Haltbrekken said Norway could not continue to provide huge tax breaks for an industry that, according to recent research, is one of the dirtiest in the world. Mining Bitcoin consumes a lot of energy and generates huge greenhouse gas emissions.
Currently (with subsidies) it costs a Norwegian miner $7,700 to mine one Bitcoin. Only large mining companies countries continue to make profits from Bitcoin mining, and smaller miners began reporting losses back in September 2018.
Not so long ago Giga Watt, a mining company from the United States, was forced to begin bankruptcy proceedings as a result of non-payment of about $7 million in taxes. Even in China, where the majority of mining farms are located, about 20,000 mining farms have recently been closed.
According to rttnews.com
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