THELOGICALINDIAN - Two mining companies with operations in Sweden accept reportedly alone their accessories in the countrys northernmost canton of Norrbotten One of the companies US miner NGDC appears to accept aback fled from the breadth abrogation 155 actor in contributed electricity bills in its wake
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US-Based NGDC Bails on $1.55M Power Bill
According to Sveriges Radio, Miami-based NGDC accomplished operations in the city of Älvsbyn afterwards accepting its ability cut by Swedish electricity supplier Vattenfall. NGDC owes 14 actor Swedish kronor ($1.55 million) to Vattenfall, with the company’s lawyer, Fredrik Sundin, advertence that the account is actively advancing the matter. “In all judgments, the anticipation does not assume so brilliant, but we will do what we can of course,” Sundin said.
Helena Ohlund of the Älvsbyn borough board declared that the bounded authorities accept been bootless in their attempts to acquaintance NGDC.
Increasing Power Costs Drive Mining Exodus
Another mining company, Chasqui Tech, has reportedly alone its affairs to authorize a bitcoin mining acreage in Kalix, Norrbotten county. The city is now gluttonous bisected a actor Swedish kronor ($55,000) in contributed rental fees from the company.
Patrik Ohlund, the arch controlling administrator of The Node Pole, a abstracts centermost development hub in Sweden, said that he believes several factors could be active these abrupt departures. He has speculated that the cryptocurrency buck bazaar and a jump in Swedish electricity prices — partly acquired by the accomplished summer’s aridity — accept created “problems” for a cardinal of mining companies with operations in the country.
However, Ohlund charcoal upbeat about the approaching affairs of Sweden’s cryptocurrency mining industry. He said that he “would not be afraid to see a doubling” in the cardinal of abstracts centers operating in Sweden. He estimated that there are already almost 50 such accessories in the country at present.
Last month, London-based MGT Capital Investments additionally announced that it had entered into a hosting acceding that would see the aggregation backpack about 6,300 S9 Antminers that are currently housed in Sweden to a ability in Colorado Springs. Stephen Schaeffer, the arch operating administrator of MGT Capital Investments, declared that the aggregation hopes to complete the move and recommence mining at abounding accommodation “before the end of December.”
Do you anticipate that mining companies will abide to leave Sweden? Share your thoughts in the comments area below!
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