mining for bitcoin in Iceland

Something to create nothing? Or, not exactly nothing, since a lot of store is put in what human beings are willing to believe.

KEFLAVIK, Iceland (AP) — Iceland is expected to use more energy mining bitcoins and other virtual currencies this year than it uses to power its homes.
With massive amounts of electricity needed to run the computers that create the precious bitcoins, large virtual currency mining companies have established a base in Iceland, a chilly North Atlantic island blessed with an abundance of renewable energy from geothermal and hydroelectric power plants....
The energy demand has developed because of the soaring cost of producing virtual currencies....
“We are spending tens or maybe hundreds of megawatts on producing something that has no tangible existence and no real use for humans outside the realm of financial speculation,” he said. “That can’t be good.”

It is hard not so speculate that in the world of nuclear fear-mongering indulged by the United States (oh those wicked North Koreans!), targeting Iceland might be a more fearsome target than, say, Cleveland or Seattle.