According to the interview of the representative of Iсeland’s largest data center Advanfa, bitcoin (Bitcoin) price drop helped the country to shift more towards the pure blockchain business and created new opportunities to utilize the infrastructures that have been built up during the bitcoin mining wave.
Mining activity in Iceland reached a peak last December. However, when bitcoin price plummeted from $19,783 to $7,424 in April many predicted a collapse of Iceland’s bitcoin industry.
Nevertheless, falling demand on mining allowed other blockchain companies to come in to utilize Iceland’s unique features such as extremely low power prices and weather conditions.
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