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

Iceland’s Svartsengi power plant. (HS Orka)

The value of bitcoin may have stumbled in recent months, but in Iceland it has so far only known only one direction: upward. The stunning success of cryptocurrencies around the globe has had a more unexpected repercussion on this island of 340,000: It could soon result in an energy shortage in the middle of the Atlantic Ocean.

As Iceland has become one of the world’s prime locations for energy-hungry cryptocurrency servers — somethi…
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