Swiss Parliament Advocates for Bitcoin Mining
The Swiss Parliament recently voted on a proposal concerning Bitcoin mining, as reported by Krypto Guru. Earlier this year in March, a parliamentary group dedicated to exploring Bitcoin's potential gathered various ideas and considerations on how it could enhance Switzerland's energy supply. The recent vote marks a successful step forward in these discussions.
This initiative originates from the Canton of Bern, where a cross-party group deliberated on leveraging Bitcoin mining to benefit Swiss infrastructure. Key figures involved include Samuel Kullmann (EDU), Simon Ryser (GLP), Mathias Mueller (SVP), Philip Kohli (Die Mitte), and Korab Rashiti (SVP). On November 28th, Samuel Kullmann shared via X that, with an overwhelming majority of 85 to 46 votes, the parliament approved a report highlighting Bitcoin mining's potential for stabilizing the power grid and utilizing otherwise wasted energy.
An interesting aspect is not only Bern's openness towards Bitcoin but also Kullmann’s acknowledgment of Dennis Porter’s contributions. Porter has been actively promoting similar initiatives across several U.S states like Texas, aiming to establish strategic Bitcoin reserves before President-elect Donald Trump takes office.
Enhancing Renewable Energy Efficiency through Bitcoin Mining
A significant question arises: How can Bitcoin mining improve renewable energy efficiency? In countries like Germany and Austria, there remains skepticism about its environmental impact due to high energy consumption concerns associated with cryptocurrencies. However, what often gets overlooked is the innovative technological perspective offered by Bitcoin, addressing some inherent challenges faced by renewables, such as solar or hydroelectricity generation cycles producing excess unusable electricity during peak times. This necessitates costly storage solutions when capacity limits are reached, leading to wastage if not effectively addressed.
Sources:
