France Proposes Bitcoin Mining with Surplus Energy

French lawmakers have introduced a proposal for a five-year experiment allowing energy producers to use surplus electricity for bitcoin mining. This initiative, outlined in a bill submitted on July 11, seeks to enhance grid stability, generate revenue from excess energy production, and lessen the modulation cycles of nuclear power plants. The proposal suggests that by cultivating a French mining sector that utilizes controllable, carbon-free electricity, the country could become a significant player in the cryptocurrency ecosystem. Lawmakers noted that electricity producers often have to sell excess energy at a loss due to insufficient storage options, leading to significant economic and energy losses. The suggested legislation also addresses the challenges posed by regulations requiring nuclear power plants to adjust their output based on renewable energy production, which strains infrastructure. If enacted, the bill would facilitate the establishment of data centers near energy production sites, potentially utilizing abandoned factories. This approach promises substantial benefits without jeopardizing the current energy supply. The proposal describes bitcoin mining as an innovative solution capable of transforming surplus energy into a profitable opportunity. Citing the Association for the Development of Digital Assets (ADAN), lawmakers estimate that allocating just one gigawatt of power to mining could generate annual revenues between $100 million to $150 million. Another benefit of bitcoin mining highlighted in the proposal is the recovery of heat, typically regarded as waste. Mining computers generate significant heat, which can be captured through heat exchangers to warm buildings, agricultural greenhouses, or aid industrial processes. The lawmakers emphasized that similar energy efficiency practices are already successful in Iceland, Norway, and Sweden, indicating technical feasibility for this approach in France.