The Norwegian government is reportedly preparing to implement a temporary ban on the development of new data centers connected to cryptocurrency mining, citing energy and environmental concerns. The ban is likely to come in force at the end of this year.

Government officials report to have done so in a bid to save the supply of electricity in the country to more productive and revenue-generating purposes.

According to Karianne Tung, Norway Minister of Digitalization and Public Administration, the authorities are trying to discourage crypto mining because it has a significant energy footprint but the benefit in created employment or tax income is minimal.

Norwegian Firms Increase Bitcoin Investments

Tung said, Crypto mining offers little value to Norwegian society. It brings about a lot of power consumption and creates extremely little employment or local economic effect.

Such a ban would set Norway apart from more and more countries, such as El Salvador, Belarus, and Pakistan, which have adopted state-sponsored Bitcoin mining initiatives to utilize their spare energy supplies as well as catalyze national revenues.

Even though the government is critical towards Bitcoin, the interest in digital gold by Norwegian corporations is reportedly increasing. According to Nordics Bitcoin information, Norwegian industrial holding company Aker ASA is the country’s largest corporate holder of Bitcoin, with 754 BTC valued at over 80 million dollars.

Nordic Bitcoin Treasuries

Crypto exposure is also being increased by other companies. K33, an investment company, has acquired 25 BTC in its portfolio in 2025, planning to increase this stock to 1,000 BTC.

Recently, the Norwegian Block Exchange purchased 6 BTC, with its target to add 10 BTC by the end of June as part of its strategic ambition.

Such a surge of institutional investment mirrors the global trend of Bitcoin becoming a major treasury holding, despite localized political opposition.