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Mining

Inspired by Texas, Swiss Canton Embraces Bitcoin Mining to Optimize Energy

By admin
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Inspired by Texas, Swiss Canton Embraces Bitcoin Mining to Optimize Energy

The Swiss Canton of Bern has passed a Bitcoin mining bill with a significant majority of 85 votes in favor. The parliament will now explore the impact of Bitcoin mining in the region. The legislation, proposed in March, aims to support renewable energy and utilize surplus energy for Bitcoin mining.

Samuel Kullmann, a Bitcoin advocate and member of the Federal Democratic Union of Switzerland (EDU), announced in an X post on November 28 that the parliament had approved a measure to study Bitcoin mining. Despite opposition from the Government Council, the legislation passed with 85 votes in favor and 46 against.

With a clear verdict of 85 to 46 votes the parliament of @kanton_bern demands a report on the potential of #Bitcoin mining to stabilize our #energygrid and the use of otherwise wasted #energy.
The proposal was co-sponsored by @simonryser (Green Liberal Party), @KorabRashiti1… pic.twitter.com/WnTNzNdPi4

— Samuel Kullmann (@samuelkullmann) November 28, 2024

The report, proposed by the 23-member multi-party Parliamentary Group, examines the possibility of using excess energy in the canton for Bitcoin mining to stabilize the electricity grid.

Bern Embraces Bitcoin Mining Following the Texas Model

According to local reports, the parliamentary group drew inspiration from Texas, USA, as a model for integrating Bitcoin mining into the canton’s energy policy. With this new approach, the government believes Bern can attract mining companies and create new job opportunities, promote renewable energy use, and optimize energy utilization. Because Bitcoin is not recognized as legal tender, it is not under the regulatory authority of the Swiss National Bank.

Dennis Porter, co-founder of the Satoshi Action Fund and founder of Satoshi Action Education, helped draft the proposal. Porter also contributed to the US State of Pennsylvania’s Bitcoin rights legislation.

Switzerland’s interest towards Bitcoin mining and crypto expansion can be because of the Bern region being a net energy exporter.

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