Swiss Parliament Approves Bitcoin Mining Study to Balance Grid and Use Surplus Energy
The Canton of Bern in Switzerland has taken a significant step towards exploring Bitcoin mining, as its Parliament has passed a bill with 85 votes in favor and 46 against.
Introduced in March by a multi-party Parliamentary Group consisting of 23 members, the legislation focuses on utilizing surplus energy for Bitcoin mining while promoting the use of renewable energy sources. The objective is to address energy grid stability and advance the economic goals of the region through technology-driven solutions.
Despite opposition from the Government Council, the Bern Parliament has approved a proposal to examine the impact of Bitcoin mining on the canton. Dennis Porter, the CEO and Co-Founder of the Satoshi Action Fund, played a key role in drafting the legislation, as announced on his social media on November 28.
The proposed study aims to evaluate the feasibility of using Bern’s surplus energy for mining operations, with an emphasis on renewable energy sources to ensure sustainability. This aligns with the canton’s efforts to optimize energy usage, stabilize the electricity grid, and promote economic opportunities such as job creation.
Taking inspiration from Texas, USA, the Parliamentary Group intends to replicate its model of integrating Bitcoin mining into energy policies. Local reports highlight their ambition to use Bitcoin mining as a means to balance the energy grid. The model emphasizes the dual benefits of energy optimization and economic development, with the aim of positioning Bern as an attractive destination for Bitcoin mining companies.
It is worth noting that Swiss law does not recognize Bitcoin as legal tender, keeping it outside the regulatory purview of the Swiss National Bank.
As Bern progresses towards Bitcoin mining, another Swiss city, Lugano, has recently made headlines for honoring Bitcoin’s pseudonymous creator, Satoshi Nakamoto. On November 24, Lugano unveiled a statue dedicated to Nakamoto as part of the 2024 Plan B Lugano forum. The initiative was a collaboration between the City of Lugano, Plan B, and Tether.
The monument, located at Lugano’s Villa Ciani, symbolizes Nakamoto’s anonymity. The sculpture features a covered figure holding a personal computer, which transforms into an abstract form when viewed from different angles.
Tether’s CEO highlighted that the statue commemorates Nakamoto’s influence on global financial systems, underscoring his role in fostering decentralized innovation.
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