Iceland is facing an “exponential” rise in Bitcoin mining that is gobbling up power resources, a spokesman for Icelandic energy firm HS Orka has said.
This year, electricity use at Bitcoin mining data centres is likely to exceed that of all Iceland’s homes, according to Johann Snorri Sigurbergsson.
He said many potential customers were keen to get in on the act.
“If all these projects are realised, we won’t have enough energy for it,” he told the BBC.
Johann’s figures are startling:
[H]e expects Bitcoin mining operations will use around 840 gigawatt hours of electricity to supply data centre computers and cooling systems, for example.
He estimated that the country’s homes, in contrast, use around 700 gigawatt hours every year.
Iceland has a population of about 350,000, not quite as many as Bakersfield, California.