Right now Iceland is growing, as it splits wider at the points where two tectonic plates meet.
The eastern part of Iceland drifts to the east and the western part drifts to the west. Iceland, sitting atop the North Atlantic Ridge, faces a constant growth created by magma.
The volcanic system has been extremely active in the past years. The latest volcanic eruption was in Holuhraun from August 2014 to February 2015. In 2010 Eyjafjallajökull volcano erupted and in 2011 Grímsvötn.
Global warming melts the island’s ice caps and that adds pace to the speed of this rise. This phenomenon may be the culprit behind this accelerated uplift.