French Lawmakers Have Proposed An Experiment With Bitcoin Mining

A similar approach has already been successfully implemented in Iceland, Norway and Sweden.

A group of French parliamentarians has proposed a five-year pilot project to use excess electricity to mine the first cryptocurrency. This is stated in a bill dated July 11, writes forklog.com.

The authors of the initiative say that cryptocurrency mining using surplus electricity will help improve the sustainability of the energy system. Currently, companies sell surplus energy at a loss due to a lack of storage options. Mining will make it possible to turn losses into income: according to estimates by the Association for the Development of Digital Assets (ADAN), 1 GW of capacity can bring $100-150 million a year.

The proposal will also reduce the load on nuclear power plants, which now have to adjust generation depending on renewable sources. This wears out the equipment.

"Another benefit of bitcoin mining is the production of heat, which is usually considered a waste product. It can be used to heat homes, agricultural greenhouses and for industrial purposes," the parliamentarians emphasized.

They noted that the initiative is technically feasible.

Analogous approach has already been successfully applied in Iceland, Norway and Sweden. If the law is passed, data centers for mining digital assets will appear in France. They will be located near power plants, in abandoned factories or other buildings.

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