A lead of Genesis Mining, Philip Salter told to Bloomberg, there is a significant exodus in bitcoin mining hashpower, from China. Sweden and Norway have a lot of clean, cheap energy from water plants, so their miners could be very profitable, especially now, with high prices.
Of course, we can’t know exactly, will this profit-rate stay, or will it decrease in the future. 2020 is a very wet year in North-Europe, and as in China during the rainy season, this year in the Nordic countries get cheap electricity. And no one is complaining about the prices right now.