Sweden Drives Final Nail Into Its Bitcoin Mining Industry With Tax Hike
The 6,000% increase in taxes per kilowatt hour of energy may "ultimately destroy the industry" in the country.
By Eliza Gkritsi - Apr 14, 2023
Energy prices started to normalize in 2023, but the upcoming tax will likely stop any new investment in Sweden, which is currently home to about 150 megawatts (MW) of mining. The tax will increase from SEK 0.006 ($0.0006) to SEK 0.36 ($0.035) per kilowatt hour (kWh) starting July of this year, according to the financial budget published in November 2022.
Sweden Drives Final Nail Into Its…
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