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Kolbeinsey earthquake swarm
This earthquake swarm started sometimes yesterday (09-May-2016) or last night (10-May-2016), the first earthquakes appeared on SIL network at 01:03 UTC. This area north of Kolbeinsey Island is located around 125 km north of it. It is thought that this area had an eruption in the last few years (I can’t find the exact year), but it was not confirmed far as I know. Mostly due the location far from the coastline. It is difficult to know for sure what is exactly going on at this location. Activity has been going up in past few months in this area.
This area is rather unknown, but some study has been done into it. I’m sure on the details. There is a possibility that activity is going to continue in this area for next few days. If an eruption takes place, nobody is going to notice it due to distance from nearest population center (~200 km).