Tonight at 01:34 UTC (9th of January 2011) a earthquake swarm started at Geysir volcano. So far this earthquake swarm is slow moving, but with the largest earthquake reaching the size ML2.7 at 4.2 km depth according to automatic earthquake detection system that Icelandic Met Office has (SIL system).
So far it is hard to know how this earthquake swarm is going to develop. As this area normally does not have a lot of earthquakes.
I am going to post more updates of there are any major developments in regards to this earthquake swarm at Geysir volcano. I do expect the largest earthquake to have been felt in nearby farms in this area.