Some mining companies are present in Iceland for years,but by the news coming from Iceland great interest has begun to appear some six months ago.Now there is no way to host all projects who showed interest for mining operation,the reason is simple, there is not enough energy.
Recent news say that the question of taxation began to appear these days,it is very strange that mining companies who operate in Iceland do not pay tax.So maybe this is the reason why even with slightly more expensive cost of electricity is profitable to mining there.
If that changes and Iceland introduces taxation on crypto mining will this affect on mining companies to stay or to look for more favorable locations?
Of course it will change,just imagine People in Iceland use 700 gigawatt per year and miners 840,this will not good for power engineering in this country,they need more profit from this,to be more interests from institutional investors.despite the fact that thay have geyser it does not mean that there will not be disbalance,but olso It is not excluded from goverment to find a new ways to solve this problem,So I just said my opinion which is obvious,Let's leave everything behind and think not only about electricity there are cheap workers too,thats why Iceland is more attractive. Recent news say that the question of taxation began to appear these days,it is very strange that mining companies who operate in Iceland do not pay tax.So maybe this is the reason why even with slightly more expensive cost of electricity is profitable to mining there.
If that changes and Iceland introduces taxation on crypto mining will this affect on mining companies to stay or to look for more favorable locations?
