French MPs have stepped up their Bitcoin mining initiatives, stressing that the country could generate annual revenues of up to $150 million from the sector.
In a bill submitted to France’s National Assembly on July 11, lawmakers proposed a five-year pilot program that would allow power producers to redirect excess electricity, often lost during periods of low demand, to bitcoin mining.
Data from the Association for the Development of Digital Assets (ADAN) suggests that allocating just one gigawatt of excess energy could generate between $100 million and $150 million a year, the lawmakers said.
These revenues could help offset the ongoing costs of running France’s nuclear power industry, while allowing the monetization of energy that would otherwise be sold at a loss.
The bill comes just a month after French lawmakers initially called on the government to explore the possibility of using bitcoin mining to recycle excess electricity produced by the country’s nuclear power plants.
Lawmakers say France’s power grid is facing growing strain due to the rise of intermittent renewables such as wind and solar.
They noted:
The large share of [renewable energy] in our energy mix leads to frequent imbalances in the grid, including situations of overproduction that force electricity producers to sell at a loss due to insufficient storage. These unused surpluses represent unacceptable economic and energy losses.
To address this issue, French lawmakers are emphasizing the need to create Bitcoin mining centers near nuclear power plants.
These centres will only be activated when there is excess power, offering a flexible approach to stabilising the grid in real time without impacting consumer supply.
As they note:
Existing infrastructure that is currently underutilized or closed could become the basis for this new system. In other countries, some former factories or defunct power plants have already been converted into mining farms using carbon-free electricity.
The bill also highlights additional benefits of Bitcoin mining, including heat recovery. Lawmakers noted that mining rigs can generate significant amounts of heat that can be redirected to district heating systems, greenhouses, or industrial facilities.
They also cited examples from countries like Finland, where heat generated by Bitcoin mining is used to support agriculture and sustainable infrastructure.
If approved, the pilot project will begin immediately and will last for about five years under the supervision of the French Council of State. A full evaluation report will be prepared in six months to determine the feasibility of wider implementation.
Meanwhile, the effort puts France in the ranks of countries such as Pakistan, Belarus and Texas in the U.S. that are looking to Bitcoin mining as a strategic response to excess energy.
Source: cryptonews.net
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