French legislators have doubled their plans for Bitcoin mining by emphasizing that the country could generate an annual turnover of a maximum of $ 150 million from the industry.
In a bill of 11 July that was submitted to the French National Assembly, the legislators outlined a five-year pilot program with which electricity producers can be diverted surplus power, often wasted during the low grid demand, to Bitcoin mining activities.
According to legislators, data from the Association for the Development of Digital Assets (ADAN) projects that only spend one Gigawatt excess energy per year can generate between $ 100 million and $ 150 million.
This income can help compensate for the fixed costs for maintaining the nuclear fleet of France, while making money with energy that would otherwise be sold with losses.
The bill comes a month after the French legislators initially encouraged the government to investigate whether Bitcoin -Mybouw could absorb the surplus power generated from the nuclear plants of the country.
The legislators argued that the energy set of France is confronted with the increasing pressure from the growth of intermittent renewable energy sources such as wind and solar energy.
They emphasized:
“The considerable share of [renewable energy sources] In our electricity mix, recurring imbalances on the grid, including episodes of overproduction that force electricity producers to sell with a loss due to a lack of storage facilities. These unused surpluses represent an unacceptable economic and energy loss. “
Advantages of Bitcoin Mining
To resolve this challenge, the French legislators insist that Bitcoin-mining centers co-location with nuclear production facilities.
These centers would only activate if there is surplus energy and offer real -time, flexible method for grid stabilization without influencing consumer provision.
According to them:
“Existing infrastructure, currently underhanded or closed, can house this new infrastructure. Some former factories or power plants set out of use have already been converted into mine farms that operate on carbon -free electricity.”
In the meantime, the legislation emphasized the secondary benefits of Bitcoin mining activities, including heat provision. The legislators noted that the mining installations can generate considerable heat that can be diverted to district heating systems, greenhouses or industrial activities.
They also emphasized examples from countries such as Finland, where bitcoin -mining heat is used to support agriculture and sustainable infrastructure.
If approved, the pilot would start immediately and about five years, by supervising the French State Council. After six months, a full evaluation report would assess the feasibility of broader acceptance.
In the meantime, this effort places France under a growing group of countries, such as Pakistan, Wit -Russia and Texas in the US, who investigate Bitcoin -my construction as a strategic reaction to electricity overbid.