Swedish Energy Minister Khashayar Farmanbar argued that the country’s electricity should be used for something more useful than Bitcoin mining.
Farmanbar, stating that it is one of the largest steel producers in the country, said that it should redouble its efforts.
Amid the worldwide energy crisis, the Minister of Energy urged the local government to devote more resources to industries in which the country specializes, such as steelmaking, rather than supporting Bitcoin miners:
“Honestly, we need energy for more useful things than Bitcoin”
The country’s steel industry produces over 4.4 Mt of crude steel per year.
Farmanbar believes it is crucial that electricity be used for more vital sectors.
“There will be bottlenecks and that means you have to look into whether we are using the energy in the best possible way. Is Bitcoin mining what we need to use the power we can use to make fossil-free steel?”
At the time of writing, Bitcoin is trading at $ 21,618 according to CoinMarketCap data.
