Icelandic authorities are making ready to defend a geothermal plant relied upon by crypto miners amid fears that current earthquakes within the area may quickly be adopted by a volcanic eruption.
Quakes within the southwestern area of Reykjanes started on October 26 and continued to escalate throughout November. Regardless of the tremors subsiding, the city of Grindavik has been evacuated with scientists claiming that an eruption from the Fagradalsfjall volcano is imminent.
The volcano is situated three kilometers from the Svartsengi geothermal plant which, as reported by Reuters, is at present being fortified with defensive partitions designed to guard it from potential lava flows.
In line with Iceland’s justice minister, sufficient sources to fill 20,000 vans are being moved to the plant to assist create the defensive barrier.
🌋 Iceland is bracing for a volcanic eruption within the coming days after a collection of earthquakes and proof of sizzling magma flowing rapidly underground.
Authorities have evacuated 1000’s of individuals.
🔗 https://t.co/bCzakEwoLg pic.twitter.com/tClhKL9cYf
— Sky Information (@SkyNews) November 14, 2023
Learn extra: Iceland turns away new Bitcoin miners amid main power scarcity
Plant powering crypto miners in lava zone
The plant doubtless provides numerous crypto miners within the area, together with Bit Digital, Bitfury, and Genesis Mining with thermal energy.
Regardless of its location within the earthquake zone and proximity to the volcano, Bit Digital claims that it has but to be affected by both and that it has contingency plans in place to take care of any potential disruption.
“The lava channel is much sufficient away from the info heart that no earthquakes have been felt in that location,” head of investor relations Cameron Schnier instructed Protos.
He added that the agency has made “preparations with one other energy station” in case the plant is affected by any eruption. “If energy does exit, downtime will doubtless be a couple of hours,” he mentioned.
In 2018, a growth supervisor for Hitaveita Sudurnesja (HS Orka), the plant’s proprietor, expressed shock on the elevated demand within the area from crypto miners. Reviews declare the bitcoin mining trade in Iceland consumes round 120 MW as “essentially the most bitcoin-mining-dense nation on the planet.”
A spokesperson for HS Orka instructed Reuters that the Svartsengi plant provides all the nation with energy. They added that within the occasion of disruption, Iceland’s capital Reykjavik would nonetheless obtain energy.
Protos reached out to crypto-mining services in Iceland which will have been impacted by the earthquake and can replace the piece if we hear again.
