French Lawmakers Propose Bitcoin Mining to Address Energy Surplus

According to PANews, a group of French legislators is advocating for a nationwide review to explore how Bitcoin mining could help address the country's ongoing issue of electricity overproduction. The proposal, submitted to the French National Assembly on June 12, urges the government to investigate the potential of utilizing Bitcoin's energy-intensive mining process to absorb excess electricity, particularly from nuclear power stations, which account for over 70% of France's energy production. In 2024, France is projected to incur losses of 80 million euros due to wasted electricity. The proposal highlights that Bitcoin mining farms could serve as flexible electricity units, capable of quickly starting and stopping to balance the grid load. Additionally, these farms could utilize abandoned industrial sites and recycle excess heat. The legislators are calling for the government to assess the feasibility of establishing a regulated low-carbon mining industry, suggesting that this initiative could stabilize the energy market and create employment opportunities.