- France plans five-year pilot to mine Bitcoin using surplus nuclear energy.
- Lawmakers hope crypto mining cuts waste, boosts revenue, creates new jobs.
- French crypto sector sees mining as clean energy’s smart economic opportunity.
France is taking steps to use its surplus nuclear energy for Bitcoin mining. On July 11, French lawmakers submitted a bill to the National Assembly. The bill suggests that Bitcoin mining will be piloted in a five-year period. The primary aim is to reuse the excess electricity that is usually wasted to run crypto mining processes.
ADAN Sees $150M Potential in France’s Bitcoin Mining Pilot
This concept is not quite new. Over the years, scholars have indicated that renewable and nuclear energy may go to waste as low demand arises. French legislators are now hoping to make this challenge a chance. The Association of the Development of Digital Assets (ADAN) estimates that the implementation of only one gigawatt of additional power can bring up to 150 million dollars annually.
The bill sponsors think such a pilot project can assist France in two ways. To begin with, it would eliminate wastage of energy. Second, it might generate additional revenues. Also, it would assist France in becoming a leader in the crypto mining industry in the continent of Europe.
Plans of other countries are also like this. For example, Kazakhstan is trying its best to modernize its energy system. The nation is attempting to establish itself as a key player in the market of cryptocurrency. Kanysh Tuleushin, the first vice minister of digital development, innovation, and aerospace industry of Kazakhstan, notes that the nation can dominate crypto in Central Asia in case it relaxes some regulations. Kazakhstan is convinced that digital mining of the excess energy can enhance its technologies as well as the energy industry.
Pakistan is also considering this notion. In the recent past, the Pakistan Crypto Council has stated that the nation will now utilize the surplus electricity in Bitcoin mining and AI data centers. Bilal Bin Saqib, who heads the council, says negotiations are already under way between the government and mining firms. The strategy is to establish mining hubs in regions that have excess energy. In this manner, Pakistan will be able to convert wasted energy into monetary gains.
France Eyes Jobs, Growth with Surplus Power Mining Pilot
France’s plan follows the same logic. The legislators who introduced the bill wish to conduct an experiment lasting three years to test this concept. At this time, electricity generators will be enabled to sell excess electricity to Bitcoin mining firms. This experiment will reveal just how crypto mining can be used to deal with surplus energy.
The proponents argue that local economies could also be boosted through mining. It would create employment (particularly in regions where renewable energy is generated). Most countries are already doing so. An example is that Iceland and Bhutan employ renewable energy to mine. The U.S. is also a world technological leader in this sector.
However, there are still obstacles to be overcome. Opponents tend to argue that crypto mining consumes high levels of electricity. Environmental impact can be reduced, however, less by utilizing surplus power only. That is why the French lawmakers find the pilot project worth a chance.
Moving forward, the French crypto sector is optimistic about a transparent political debate. They expect legislators to recognize mining as an economic development and intelligent energy consumption tool. The pilot project might prove to be successful, and in that case, other countries in Europe may follow the example of France.
Finally, additional nuclear or renewable energy to mine Bitcoin is becoming a point of interest globally. As France joins the movement, crypto mining in the future appears to have a stronger relationship with clean power than ever.