This week, a power crisis has developed in Iceland, forcing the island's largest utility company, Landsvirkjun, to reduce electricity to energy-intensive industries, such as data centers and metal smelters, including the denial of new power contracts to crypto miners. 

    "The reduction does not only apply to fishmeal factories but also to those large users who have curtailable short-term contracts, such as data centers and smelters. Landsvirkjun has also rejected all requests from new customers for energy purchases due to electronic currency mining," according to Iceland Monitor.

All power on the island is generated through renewable sources, with 73% of electricity provided by hydropower plants and 26.8% from geothermal energy, accounting for over 99% of total electricity consumption. The source of the power crisis is low hydro reservoir levels.