Goldman-Backed Battery Maker Says Bitcoin Mine a Waste of Energy
- Northvolt says Swedish crypto site shouldn’t get tax rebates
- Competition for country’s clean-energy supply is heating up
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Battery startup Northvolt AB says Sweden should stop wasting state-funded green energy on a local Bitcoin mine, in a sign that competition for access to the country’s renewable power supplies is heating up.
The Goldman Sachs Group Inc.-backed firm -- which runs a cell factory in Skelleftea and plans to build another plant in Gothenburg -- is a part of a wave of manufacturers eager to decarbonize their assembly lines by tapping Sweden’s hydro and wind power sources.