Iceland is going to read the electricity crisis due to its Bitcoin

The country can now be in power crisis due to the fact that the large data centers in Iceland have been found to be in search of Bitcoin. HS Orca, a fuel company in the country, said that there is a huge amount of electricity expenditure on running these data centers.

The company's spokesperson said that more electricity will cost more than the cost of electricity at home in Iceland this year, at the data center.

He said many more people are now going to set up these data centers. If all the projects are implemented, electricity will not be in Iceland to run them. This is said in a BBC Bengali report.

Iceland has a very low population, only 340,000 But recently this island has created a new data center. Companies that are setting up these data centers want to show that they are using environment friendly fuel

Bitcoin mining refers to connecting computers with Bitcoin networks around the world, and checking out the transactions that are being made by this crypto currency.

The computers that perform this verification work, they receive a bit 'Bitcoin Prize' in response to this. But if someone can do this work in a big way, it is quite profitable.

But now there is a huge growth of this business in Iceland. And with the help of it, the power consumption is increasing for data centers.

It is estimated that this year, around 840 gigawatt hours of electricity will be spent on Bitcoin Mining operations in Iceland. On the contrary, electricity consumption in Iceland is seven gigawatt hours.

The insanity with bitcoin that will stop soon, its signs are not seen. A spokeswoman for the energy company HS Ocker said they have received lots of calls from such people interested in establishing a data center in Iceland.

He said, the amount of data centers that are going to be set up will not be possible in all.

He said, if all the data centers were genuinely launched, the electricity in Iceland would not be left anymore.

Iceland's Cripto currency mining business this year has been revolving around the project called 'Moonlight Project', a huge data center. It will be open by the end of this year.

However, many questions are asked about what this industry will do in Iceland.