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Swiss Canton of Bern to Explore Bitcoin Mining Potential
According to Cointelegraph, the parliament of the Swiss canton of Bern has approved a motion to commission a report on Bitcoin mining, despite opposition from the canton’s Government Council. The report, proposed by the multiparty Bitcoin Parliamentary Group, aims to explore the feasibility and implications of Bitcoin mining in the region. The motion passed with a vote of 85 to 46, marking a significant step for supporters who view this as a victory.
The report will investigate potential sources of excess energy within the canton, opportunities for collaboration with Swiss Bitcoin miners, and the possibility of Bitcoin mining contributing to the stability of the electricity grid. The group drew inspiration from the US state of Texas, which has integrated Bitcoin mining into its state energy policy. By promoting Bitcoin mining, the canton could potentially attract mining companies and jobs, encourage renewable energy use, and enhance grid stability.
The proposal for the report was introduced in March as part of several initiatives by the parliamentary group. Despite the Government Council's recommendation against the proposal in September, the motion gained a clear majority. Canton member of parliament Samuel Kullmann noted that the debate was influenced by classic FUD (fear, uncertainty, and doubt) arguments but ultimately reflected a changing narrative on Bitcoin.
The Government Council argued that energy use in Bern Canton is an international issue, as the region exports energy. They also highlighted the growing energy consumption from other data centers and the development of energy storage technology. Additionally, they pointed out that Bitcoin mining is subject to market trends and that Bitcoin is not legal tender, thus not under the control of the Swiss National Bank.
Despite these challenges, Switzerland maintains a pro-crypto stance. Dennis Porter, co-founder of the Satoshi Action Fund, contributed to the preparation of the proposal. Porter also played a role in drafting the "Bitcoin rights" legislation in Pennsylvania, USA. Ripple CEO Brad Garlinghouse has praised Switzerland for its supportive crypto environment, with cities like Lugano and Zug being notable hubs for blockchain innovation.
The report will investigate potential sources of excess energy within the canton, opportunities for collaboration with Swiss Bitcoin miners, and the possibility of Bitcoin mining contributing to the stability of the electricity grid. The group drew inspiration from the US state of Texas, which has integrated Bitcoin mining into its state energy policy. By promoting Bitcoin mining, the canton could potentially attract mining companies and jobs, encourage renewable energy use, and enhance grid stability.
The proposal for the report was introduced in March as part of several initiatives by the parliamentary group. Despite the Government Council's recommendation against the proposal in September, the motion gained a clear majority. Canton member of parliament Samuel Kullmann noted that the debate was influenced by classic FUD (fear, uncertainty, and doubt) arguments but ultimately reflected a changing narrative on Bitcoin.
The Government Council argued that energy use in Bern Canton is an international issue, as the region exports energy. They also highlighted the growing energy consumption from other data centers and the development of energy storage technology. Additionally, they pointed out that Bitcoin mining is subject to market trends and that Bitcoin is not legal tender, thus not under the control of the Swiss National Bank.
Despite these challenges, Switzerland maintains a pro-crypto stance. Dennis Porter, co-founder of the Satoshi Action Fund, contributed to the preparation of the proposal. Porter also played a role in drafting the "Bitcoin rights" legislation in Pennsylvania, USA. Ripple CEO Brad Garlinghouse has praised Switzerland for its supportive crypto environment, with cities like Lugano and Zug being notable hubs for blockchain innovation.
Aviso legal: Se incluyen opiniones de terceros. Esto no representa una asesoría financiera. Puede haber contenido patrocinado. Lee los TyC.
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