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International Business Times
International Business Times
Business
Marvie Basilan

Iceland Will Curb Bitcoin Mining In Food Security Prioritization Shift, PM Says

Bitcoin's price has soared by more than 20 percent this month and more than tripled since January last year. (Credit: AFP)

KEY POINTS

  • 'Bitcoin is an issue worldwide,' said Iceland's prime minister in an interview
  • Iceland is the world's largest Bitcoin hashrate producer per capita
  • On the contrary, the island nation only produces 1% of its own grain products

Iceland, known for its suitable environment for Bitcoin mining, may abandon cryptocurrency miners in the future and instead focus on food security as electricity grows scarcer by the day, Prime Minister Katrín Jakobsdóttir said.

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