• Geothermal powerplant in Iceland.

    Iceland may hit a milestone in 2018 because of bitcoin

    Miners love cheap electricity and Icelanders know a thing or two about volatility

    A remote nation with a small population, shaky politics, a hard left government, and economic turmoil in its recent past is finding that mining is taking up a huge chunk of one of its biggest resources. Sound familiar? No, not Venezuela or Congo or let’s face it, too much of the developing world. Nope, we’re talking Iceland, the country that gave the world… um… Bjork. Yeah, that’s one big export. Let’s see… What else… whale meat? C’mon. Work with us here. Anyway, the natural resource we’re talking about is geothermal-generated electricity and they’re used for mining bitcoin. According to a U.K.-based news site Metro, 2018 may see more Icelandic electricity…