Iceland has recently obtained a noteworthy footing in Europe’s remaining Bitcoin mining centres, as observed by Hashrate Index, owing to its plentiful renewable energy sources. A huge amount of stalled hydro and geothermal energy also backs up Iceland as an emergent leader in Bitcoin mining.
Iceland has become the global leader per capita when it comes to Bitcoin mining. As reported by a renowned BTC mining researcher, Jaran Mellerud, on February 21, this is not that surprising as this small country has been involved in mining cryptocurrency for quite some time. Furthermore, Mellerud noted that Iceland has the highest hash rate of any nation, making it a major player in Bitcoin mining.
Iceland Blaze a Trail in BTC Mining!
Mellerud made an estimation that the nation’s BTC mining sector spans around 120 megawatts of electricity – making it the biggest hash rate manufacturer per capita, in terms of its population of 370,000. That’s 1.3% of the global hash rate – which, if you think about it, is quite impressive!
Moreover, Iceland is bustling with activity from leading global companies like Bitfury, Hive Blockchain and Genesis Mining, alongside some colorful domestic businesses.
In Iceland, two of nature’s most powerful forces – volcanoes and waterfalls – generate double the amount of electricity than that of the runner-up, Norway. And, this behemoth of renewable electricity output showcases a true powerhouse of Bitcoin mining and Europe’s largest hub of mining.