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Swiss Parliament Approves Bitcoin Mining Study to Balance Grid and Use Surplus Energy
Swiss Parliament Approves Bitcoin Mining Study to Balance Grid and Use Surplus Energy
November 29, 2024
Switzerland and Bitcoin BTC
The Canton of Bern in Switzerland has taken a significant step towards exploring Bitcoin mining, as its Parliament passed a bill with 85 votes in favor and 46 against.
Introduced in March by a 23-member multi-party Parliamentary Group, the legislation focuses on utilizing surplus energy for Bitcoin mining while promoting the use of renewable energy sources. The goal is to address energy grid stability and advance the region’s economic objectives through technology-driven solutions.
Bern Parliament Explores Bitcoin Mining
Despite opposition from the Government Council, the Bern Parliament approved a proposal to analyze the impact of Bitcoin mining on the canton. Dennis Porter, the CEO and Co-Founder of the Satoshi Action Fund, played a crucial role in drafting the legislation, as announced on his social media on November 28.
Porter had previously been involved in Bitcoin rights legislation in Pennsylvania, USA, and brought his expertise to this initiative in Switzerland.
MASSIVE BREAKING: After speaking with a lawmaker in Switzerland, I can confirm he has officially passed legislation to study Bitcoin mining with a sweeping majority of votes.
The study will focus on how Bitcoin mining can balance the grid and utilize wasted energy.pic.twitter.com/y6V2D3yXCY
— Dennis Porter (@Dennis_Porter_)November 28, 2024
The proposed study will evaluate the feasibility of using Bern’s surplus energy for mining operations, with a focus on renewable energy sources for sustainability. This aligns with the canton’s efforts to optimize energy usage, stabilize the electricity grid, and create economic opportunities such as job growth.
Texas Model Inspires Bern’s Energy Strategy
Taking inspiration from Texas, USA, the Parliamentary Group aims to adopt its approach of integrating Bitcoin mining into energy policies. Local reports highlight the group’s ambition to use Bitcoin mining as a tool for grid balancing.
The model emphasizes the benefits of energy optimization and economic development, aiming to position Bern as an attractive location for Bitcoin mining companies.
It is worth noting that Swiss law does not recognize Bitcoin as legal tender, keeping it outside the regulatory jurisdiction of the Swiss National Bank.
Swiss city Honors Bitcoin’s Founder
While Bern progresses towards Bitcoin mining, another Swiss city, Lugano, has recently made headlines for paying tribute to 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, situated at Lugano’s Villa Ciani, symbolizes Nakamoto’s anonymity. The sculpture depicts a covered figure holding a personal computer, which transforms into an abstract form when viewed from different angles.
Tether’s CEO emphasized that the statue commemorates Nakamoto’s influence on global financial systems, highlighting his role in promoting decentralized innovation.
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