French lawmakers have introduced a proposal aimed at transforming surplus electricity into economic value through Bitcoin mining. The five-year experimental program would allow energy producers to redirect excess power, particularly from nuclear and renewable sources, for Bitcoin mining. This initiative seeks to address energy overproduction issues and prevent losses from selling surplus electricity. The proposal argues for improved grid stability and infrastructure efficiency by creating data centers near production sites. Estimates suggest allocating one gigawatt of surplus could yield significant annual revenue.
Electricity producers are often compelled to sell overproduced energy at a loss due to a lack of storage, which constitutes an 'unacceptable economic and energy loss.'
By developing a French mining sector with a controllable and carbon-free electricity mix, France could establish itself as a major player in the cryptoasset ecosystem.
In short, Bitcoin mining is an innovative use, capable of converting a problem (unused surplus) into an economic opportunity.
Lawmakers estimate that allocating just one gigawatt of surplus power to mining could generate between $100 million and $150 million in annual revenue.
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