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Cryptocurrency mining in Iceland is using so much energy, the electricity may run out

As Iceland has become one of the world's prime locations for energy-hungry cryptocurrency servers — something analysts describe as a 21st century gold-rush equivalent — the industry’s electricity demands have skyrocketed, too.

For the first time, they now exceed Icelanders’ own private energy consumption, and energy producers fear that they won’t be able to keep up with rising demand if Iceland continues to attract new companies bidding on the success of cryptocurrencies.


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