Yesterday (20.01.2013) there where few medium sized earthquakes deep on the Reykjanes Ridge. This earthquakes where far off the coast of Iceland (around 1340 km from Reykjavík). So this earthquake swarm is just being noticed on instruments. What is going on there is impossible to know. The largest earthquake in this swarm is a magnitude Mb5.2 earthquake that did happen at 21:40 UTC. Earlier and earthquakes that did follow this earthquake had the magnitude from Mb4.7 to Mb5.0. But any smaller earthquakes are unlikely to be detected at this distance from any seismometer network in Europe or America.
Location of the largest earthquake in this swarm. A magnitude 5.2 earthquake. Copyright of this image belongs to EMSC.
More earthquake activity might take place on this location. But it is hard to know due to lack of data. But it is worth keeping an eye on it. As things remain quiet in Iceland at the moment.
Blog post updated at 00:37 UTC on 21.01.2013.