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Iceland Cuts Power to Industry, Turns Away New Bitcoin Miners

  • Iceland curbs power to heavy users amid hydro supply crunch
  • Bottleneck in distribution system leads to lower availability
Photographer: Arterra/Universal Images Group/Getty Images
Updated on

A lack of power in Iceland has caused the island’s main utility, Landsvirkjun, to reduce supplies to some industrial customers, such as aluminum smelters, data centers and fish meal factories, as well as turn away new Bitcoin miners.

Low hydro reservoir levels, a malfunction at a power station and a delay in obtaining power from an external producer led to the reduction, effective immediately, the company said on Tuesday. In addition to fish-feed plants, the reductions apply to large customers on curtailable short-term contracts. Record demand also played a part, said Tinna Traustadottir, executive vice president of sales and customer service at Landsvirkjun.