A group of French lawmakers has proposed to explore the potential of Bitcoin mining as a tool for managing the country’s electricity generation.
Legislative Proposal on Bitcoin Mining
In Paris, a legislative initiative has been proposed urging the government to assess the potential of Bitcoin mining as a means to improve electricity generation management. The executive branch needs to analyze whether the country requires domestic Bitcoin mining capabilities and report back to the parliament.
How Bitcoin Mining Can Enhance Energy System Stability
Lawmakers argue that Bitcoin mining could address the need for optimizing the management of surplus electricity production. Mining operations are highly flexible; they can be turned on and off quickly according to production and consumption peaks. This could relieve the burden on nuclear power plants and lower negative prices in wholesale markets.
Future of Bitcoin Mining in France
It is important to note that the ongoing parliamentary debates represent a first step towards potential actions from the French government. The amendment has been developed in partnership with the Association for the Development of Digital Assets (ADAN), which is actively promoting regulation of cryptocurrencies and mining in the country.
This initiative could be a significant step for France in finding a balance between utilizing cryptocurrencies and efficiently managing the country's electricity.
