Swiss lawmakers will assess the potential of Bitcoin mining to strengthen the country’s power grid

Published on December 3, 2024
By: Karin Interfector
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The Canton of Bern’s Parliament, one of Switzerland’s 26 administrative regions, recently approved a motion to explore Bitcoin mining to stabilize the energy grid using surplus power. The proposal was championed by Congressman Samuel Kullmann and passed with a vote of 85 to 46.

Kullmann took to social media platform X to share the outcome and thank those involved. The initiative aims to explore how the Proof of Work (PoW) consensus algorithm can help reduce energy waste and support renewable energy systems. The upcoming study will examine whether Bitcoin mining aligns with the Canton of Bern’s current energy policies.

The bill, introduced in March by 23 congressmen calling themselves the “Bitcoin Parliamentary Group”, was inspired by the rise of crypto mining in regions like Texas, USA. The group called for a study to explore the mining potential in the Canton of Bern, but the cantonal government opposed the motion, citing concerns over the high energy consumption and questioning mining’s financial and regulatory implications.

Samuel Kullmann pointed out that the study isn’t a commitment to Bitcoin mining right away, but rather an evaluation of its potential. While the local government initially opposed the idea, most lawmakers felt that ignoring Bitcoin’s potential could mean missing out on investment opportunities, job creation, and improved energy efficiency.

If the study produces positive results, Bitcoin mining could play a big role in the Canton of Bern’s energy strategy, helping to manage surplus energy and stabilize the power grid. It could also attract crypto mining companies to the region, boosting the local economy and driving innovation in renewable energy sources.

As Bitcoin mining gains momentum, many countries are looking for ways to incorporate cryptocurrencies into their economies and energy policies. For example, both the United States and Brazil are exploring the possibility of creating strategic Bitcoin reserves.

Senator Cynthia Lummis has proposed creating a strategic Bitcoin reserve for the U.S. to accumulate up to 1 million Bitcoins, boosting the country’s economic resilience. Likewise, lawmakers in Brazil are pushing for a national BTC reserve, aiming to convert up to 5% of their foreign currency reserves.

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