9 hours ago
French lawmakers person doubled down connected their plans for Bitcoin mining by highlighting that the state could make an yearly gross of up to $150 cardinal from the industry.
In a July 11 bill submitted to the French National Assembly, the lawmakers outlined a five-year aviator programme allowing energy producers to redirect excess power, often wasted during debased grid demand, toward Bitcoin mining operations.
According to the lawmakers, information from the Association for the Development of Digital Assets (ADAN) projects that dedicating conscionable 1 gigawatt of surplus vigor could make betwixt $100 cardinal and $150 cardinal each year.
This gross could assistance offset the fixed costs of maintaining France’s atomic fleet portion monetizing vigor that would different beryllium sold astatine a loss.
The measure comes a period aft French lawmakers initially urged the government to analyse whether Bitcoin mining could sorb the excess powerfulness generated from the country’s atomic plants.
The lawmakers argued that France’s vigor grid faces mounting unit from the maturation of intermittent renewables similar upwind and solar.
They stressed:
“The important stock of [renewable vigor sources] successful our energy premix is starring to recurring imbalances connected the grid, including episodes of overproduction that unit energy producers to merchantability astatine a nonaccomplishment owed to a deficiency of retention facilities. These unutilized surpluses correspond an unacceptable economical and vigor loss.”
Benefits of Bitcoin mining
To lick this challenge, the French lawmakers are pushing for Bitcoin mining centers to beryllium co-located with atomic accumulation facilities.
These centers would lone activate erstwhile there’s excess energy, offering a real-time, flexible method for grid stabilization without affecting user supply.
According to them:
“Existing infrastructure, presently underutilized oregon closed, could accommodate this caller infrastructure. Abroad, immoderate erstwhile factories oregon decommissioned powerfulness plants person already been transformed into mining farms operating connected carbon-free electricity.”
Meanwhile, the authorities highlighted the secondary benefits of Bitcoin mining activities, including vigor recovery. The lawmakers noted that the mining rigs tin make important heat, which tin beryllium redirected to territory heating systems, greenhouses, oregon concern operations.
They besides highlighted examples from countries similar Finland, wherever Bitcoin mining vigor is utilized to enactment agriculture and sustainable infrastructure.
If approved, the aviator would statesman instantly and past astir 5 years, with oversight from the French Council of State. After six months, a afloat valuation study would measure the feasibility of broader adoption.
Meanwhile, this effort places France among a increasing radical of countries, specified arsenic Pakistan, Belarus, and Texas successful the US, that are exploring Bitcoin mining arsenic a strategical effect to energy oversupply.
The station French lawmakers accidental state could make $150M successful yearly gross from Bitcoin mining appeared archetypal connected CryptoSlate.
English (US) 