Bitcoin mining hosting in Iceland
Iceland runs on 100% renewable hydro and geothermal power with a climate made for air cooling, and Bull Miners' Icelandic capacity is from $0.0172/kWh at 1 available site. New space is scarce: the national generator Landsvirkjun stopped accepting new bitcoin-mining load in 2021 and major colocation operators are prioritising AI customers.
Country data checked 2 November 2026 · live rates updated hourly
Our Iceland sites (live)
| Site | Power rate | Monitored uptime | Status |
|---|---|---|---|
| Iceland | $0.0172/kWh | 99.70% | Available |
| Iceland #2 | $0.0172/kWh | 99.65% | At capacity |
Power is billed on actual kWh and deducted from your miner's earnings; net earnings are credited to your balance daily. See hosting terms.
Iceland mining at a glance
Public data, checked 2 November 2026. Sources linked.
| Factor | Iceland |
|---|---|
| Power source | ~80% hydro, ~20% geothermal — 100% renewable · source |
| Utility stance | Landsvirkjun declined new mining applications (Dec 2021) · source |
| Data centres' share of power | ~6% of national electricity (2025) · source |
| Public mining tariff | None published — bilateral contracts |
| Climate | Reykjavík annual mean 5.1 °C, July 11.6 °C |
Who Iceland suits
For owners who prioritise 100% renewable power and stable cooling, and who can wait for capacity.
Cooling
Cool year-round — the easiest cooling environment we operate in.
Key risks
- Scarce capacity: no new utility mining load and colos favouring AI customers.
- Curtailment in dry hydro years and political preference for other industries.
- Volcanic activity on the Reykjanes peninsula makes site location important.
Machines we recommend for Iceland
| Model | Hashrate | Power | Price | Why |
|---|---|---|---|---|
| Bitmain Antminer S21 XP (270Th) | 270Th/s | 3,645 W | $2,907.00 | Air-cooled efficiency |
| Canaan Avalon A16XP-300T (300 Th) | 300Th/s | 3,850 W | $3,570.00 | 12.8 J/TH air-cooled |
Estimate profit at Iceland rates with the mining calculator or compare all models on profitability.
Mining hosting in Iceland — questions
Is Bitcoin mining legal in Iceland?
Yes. Mining is legal, but the national generator Landsvirkjun stopped taking new mining power applications in 2021, so capacity is limited to existing contracts.
Why is Iceland good for mining?
All electricity is renewable (hydro and geothermal) and the cool climate lets air-cooled ASICs run at full spec with very little cooling energy.
Is Iceland mining hosting available now?
Check the live status in the table on this page. Iceland is often at capacity; Norway, Finland and Canada are the closest alternatives.
What are the risks of hosting in Iceland?
Limited capacity, possible curtailment in dry years, and geohazards — repeated eruptions near Grindavík since 2023 make site selection important.