Norwegian Town Bans Bitcoin Mining, Residents See Electricity Bills Rise $300, Over 25% Increase

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September 15, 2024
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Dennis Porter, co-founder of the Satoshi Action Fund, posted on X that after a Norwegian town banned Bitcoin mining, electricity bills for each household increased by $300, a jump of over 25%. He explained that after the ban, the region's electricity demand decreased, causing other users to shoulder higher electricity costs to make up for the revenue loss from the departure of Bitcoin mining businesses.

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