Sweden, the last remaining stronghold of bitcoin miners in Europe, is abolishing tax incentives for data centers in July – potentially putting the last nail in the coffin for the industry in the region.
The tax will increase from SEK 0.006 ($0.0006) to SEK 0.36 ($0.035) per kilowatt hour (kWh) starting July of this year.
Sweden is currently home to about 150 megawatts (MW) of mining.