A bitcoin BTC mine is being established in the Arctic Circle, specifically in a Norwegian fishing village. The mining facility, developed by Sazmining, will be 350 square meters and aims to replace an oil boiler in a prominent building with a bitcoin processing system, utilizing the substantial heat generated by the mining equipment.

Kent Halliburton, the CEO of Sazmining, mentioned that this move will highlight the potential of bitcoin mining for other residents in Arctic regions.

"Heat is a really critical resource in this region of the world," Halliburton stated. "It’s minus 20 degrees Celsius for large portions of the year. … A portion of the heat [from the machines] is actually going to be shunted off to dry fish, which is part of the economy there."

While Halliburton is keeping the exact location confidential until the operation launches on December 1, he emphasized the project's role in educating locals about bitcoin mining.

The mining site will utilize 2.6 megawatts (MW) of energy, employing a liquid cooling system to maintain optimal temperatures and reduce noise.