The Norwegian parliament has rejected a bill banning mining in the country. According to local newspaper E24, the initiative was supported only by left-wing parties.

The proposal to ban the mining of bitcoin and other cryptocurrencies based on the Proof-of-Work (PoW) algorithm was first introduced in March 2022. The authors of the bill referred to the high energy consumption during mining, mostly from renewable sources.

“The majority of those who voted against disappointed us. […] Sophie Marhaug, representative of the Rødt party, told the broadcast that if we want to use wind energy, we must prioritize for what purposes it will be consumed.

According to Cointelegraph, in 2021, 88% of Norway’s electricity production came from hydro sources and 10% from wind farms.

Speaking to the portal, Arane Research analyst Jaran Mellerud noted that left parties are likely to attempt to raise electricity charges for miners. He also did not rule out that industry critics will draft a new bill that aims to completely ban operations for the extraction of digital assets.

Previously, European countries have repeatedly called for a ban on mining of PoW-based cryptocurrencies. Switzerland in neighboring Norway made a similar attempt.

Recall that in January 2022, Eric Theden, head of the European Securities and Markets Authority, called for a ban on bitcoin mining.