This is a short update on the earthquake swarm in Fagradalsfjall mountain and nearby area. This is written on 1-August-2022 at 13:47 UTC.
The situation on Reykjanes peninsula is always updating so information in this article can be in part or in whole get obsolete quickly. Largest earthquake during the night had a magnitude of Mw4,7. This might not be the largest earthquake today, since larger earthquakes are always a possibility.
GPS data have started to show a large displacement over the last 48 hours. The 24 hour GPS displacement can be found here and 8 hour GPS displacement data can be found here (find Reykjanes peninsula). This shows that magma is pushing its way though the crust at fast speed, but has not yet broken up trough the crust. When that happens is impossible to know, but this might not be a long wait based on the speed the magma is going. Current depth of the magma is around 2 to 4 km.