Norwegian companies have significantly increased their Bitcoin holdings, creating a sharp contrast with the government’s move to restrict crypto mining.
Reuters reported on June 20 that Norway is preparing to implement a temporary prohibition on establishing new data centers associated with cryptocurrency mining.
The report indicates that the government plans to enforce new restrictions before the year concludes, driven by growing concerns over environmental impact and rising energy demands.
According to the government, electricity should be preserved for more productive purposes.
Norway’s Minister for Digitalization and Public Administration, Karianne Tung, emphasized that the government seeks to significantly limit crypto mining operations. She noted that although these activities consume a substantial amount of energy, they provide minimal economic value, generate few employment opportunities, and contribute little in tax revenue.
Meanwhile, Norway’s position contrasts with the approach adopted by an increasing number of nations that leverage Bitcoin mining to make use of excess energy and enhance state revenues.
Significantly, countries such as El Salvador, Belarus, and Pakistan have adopted state-backed mining programs. These initiatives support local economic growth, contribute to stabilizing national energy grids, and help reduce electricity costs for their populations.
Norwegian Company Adopts Bitcoin Strategy
Although resistance to mining is being led by the government, Norwegian firms are actively expanding their engagement with Bitcoin.
According to Nordics Bitcoin, Aker ASA, a leading industrial holding firm, currently holds 754 BTC—worth over $80 million—making it the largest corporate holder of Bitcoin in Norway.
Crypto-focused company K33 has increased its Bitcoin reserves by acquiring 25 BTC this year and has signaled its intention to expand its total holdings to 1,000 BTC.
At the same time, the Norwegian Block Exchange recently acquired 6 BTC and plans to raise its reserve to 10 BTC by the end of June as part of an exploratory effort.
Norwegian companies are increasingly adopting Bitcoin as a treasury asset, even as political opposition continues to grow.
The alignment of corporate interest with a worldwide pattern has positioned the leading cryptocurrency as a major force within the global financial landscape.
