Yesterday (18-December 2024) at 22:50 UTC. The strongest earthquake since modern recording started took place in Ljósufjöll volcano. This earthquake was felt in Borgarnes, Akranes and other nearby towns. Magnitude of this earthquake was Mw3,2 at depth of 18 km. The reason for this earthquake is injection of magma at depth at this location.
As it looks now. An eruption is unlikely to happen in Ljósufjöll volcano. In the last few months, the depth of this earthquake activity has not changed that much and continues to be at 15 to 25 km depth in this area. The crust is also thicker and more dense in this part of Iceland and that requires more magma to break up to the surface. At the writing of this article, that has not changed since this earthquake activity started. As more magma injects into this location is going to result in more earthquakes. Currently, the amount of magma in this injection seems to be minor and is unable to break a path to the surface.