Iceland will “turn off the lights” to industrialists and crypto miners due to lack of energy

Brief:

  • Interruptions in Iceland with the supply of electricity
  • Because of this, the utility operator will temporarily disconnect from the network of industrialists and crypto-miners
  • When the problem will be solved, it is not yet known

Iceland’s largest utility operator Landsvirkjun has reported power outages. In this regard, the company decided to temporarily disconnect some enterprises from the system.

These include large aluminum smelters, fish feed factories and crypto miners. Interruptions are caused by a variety of problems.

Among other things, the largest power plant on the island, Geothermal Power Plant Headlisheidy, has a serious generator malfunction, the tanks have low water levels, and the external supplier did not provide energy on time.

Reduced electricity supplies will affect miners as well. The largest among them are three Canadian companies – Hive Blockchain Technologies, Genesis Mining and Bitfury Holding.

They were also attracted by the available energy from renewable sources. In general, over the past year, the trend of “green” blockchain has gained a lot of popularity.

In 2013 Cloud Hashing moved to Iceland 22 farms. In 2017, another company, HydroMiner GmbH, raised $ 2.8 million as part of its first ICO to install installations directly at the Geothermal power plant.

It is not yet known how much the downtime will affect crypto farm operators. A spokesperson for a utility operator has been slow to predict when electricity supplies will resume. We previously reported that some miners are forced to leave Kazakhstan due to power outages. The government is considering an option with the construction of a nuclear power plant to solve this problem.

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