Switzerland has approved a motion to study the feasibility of Bitcoin mining, marking a step towards wider acceptance of the cryptocurrency by the government and the traditional financial system. The decision, backed by the Council of State, aims to explore how Bitcoin mining could harness excess energy and contribute to the stability of the regional electricity grid in the Canton of Bern.
The council is tasked with submitting a detailed report assessing the potential benefits and challenges of Bitcoin mining. This includes identifying unused energy sources, collaborating with local mining companies, and examining whether mining operations could help stabilize the electricity grid. Lawmakers believe that Bitcoin mining could turn excess energy into an economic opportunity, especially in areas with negative electricity prices.
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The initiative is in line with the efforts of the Swiss “Parliamentary Bitcoin Group,” which aims to position Bern as a leader in financial digitization. A similar example from Texas shows how miners can increase energy security by acting as flexible consumers of excess electricity. In Switzerland, Bitcoin mining is seen as a way to utilize excess energy while supporting economic growth.
Wow, Mining also has positive benefits, guys!