Information in this article is going to go outdated quickly.
Uncertainty level has been declared in Grímsey island and nearby area due to the strong earthquake activity in the night. Largest earthquake during the night was a magnitude 5,2 the second largest earthquake had the magnitude of 4,5 at the moment. Based on how it appeared on my geophone it possibly close to being a magnitude 5,0 earthquake. Revision takes time when a large earthquake swarm like this happens. The largest earthquake was felt over a wide area in north, north-east and north-west Iceland according to reports by Icelandic Met Office.
There is currently no end in sight for this earthquake swarm. It remains unclear if this is due to a possible volcano event in the making or just tectonic activity. Currently there is no eruption happening at this location. Unlike what appears on the live updated maps all of the earthquake activity is located east of Grímsey island. The SIL network has problems properly locating the earthquakes automagically when a large earthquake swarm like this happens.