In today’s edition of Crypto News, we’ll cover why Bitcoin (available on Coinbase) mining is expected to get a lot more expensive in Norway in 2019 and the details of the crypto market hitting its 10-day low.

Crypto News: Bitcoin (available on Coinbase) Mining in Norway

A Swiss newspaper made the announcement today that its country will be acting to end electricity subsidies for Bitcoin (available on Coinbase) mining. Until now, mining farms operating in Norway have been paying a low rate of 0.48 ore per kilowatt. As of January 2019, it will be raised to 16.58 ore per kilowatt.

Lars Haltbrekken, a parliamentary representative from the Swiss Socialist Left Party, said:

“Norway can not continue to provide huge tax incentives for the most dirty form of cryptocurrency output […] [Bitcoin (available on Coinbase)] requires a lot of energy and generates large greenhouse gas emissions globally.”

Norway has been a haven for Bitcoin (available on Coinbase) miners in the past due to its cold climates and low electricity rates; this is why it has made the top crypto news today. Many remain shocked as there was zero consultations or dialogue with the mining industry in Norway before action was taken.