Catenaa, Tuesday, December 03, 2024-The Swiss canton of Bern has approved a groundbreaking bill to investigate Bitcoin mining as a means of utilizing surplus electricity, despite initial resistance from the local government.
Proposed by a pro-crypto Parliamentary Group in March, the legislation gained strong support from the 160-member local parliament. This initiative aims to position Bern as a mining-friendly hub, following the example of regions like Texas and Iceland.
The legislation requires a detailed study to assess the availability of excess energy and determine how Bitcoin mining could help stabilize the power grid. Switzerland, already known for its crypto-friendly policies, offers favorable conditions for mining due to its 62% reliance on hydroelectric power and a cool climate ideal for efficient operations.
Switzerland ranks ninth globally in Bitcoin node hosting, reflecting its advanced crypto infrastructure. Bern’s new initiative could further enhance the country’s reputation as a leader in sustainable cryptocurrency practices.
Despite the opposition citing Bitcoin’s high energy consumption and lack of centralized oversight, proponents argue that mining operations can effectively tap into renewable energy surpluses. This initiative could open doors to medium-scale mining facilities while reinforcing Switzerland’s role in pioneering environmentally conscious crypto solutions.
