Investing.com -- Norway plans to implement a temporary ban on new data centers that mine cryptocurrency using power-intensive technology, the government announced Friday.

"The Labour Party government has a clear intention to limit the mining of cryptocurrency in Norway as much as possible," said Minister for Digitalization and Public Administration Karianne Tung in a statement.

The Nordic country aims to preserve electricity for other industries through this measure.

According to Tung, "Cryptocurrency mining is very power-intensive and generates little in the way of jobs and income for the local community."

The Norwegian government indicated that this temporary ban could take effect during autumn of 2025.

The restriction would specifically target the establishment of new data centers that use the most electricity-demanding technology for cryptocurrency mining operations.

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