- Canton of Bern’s Parliament votes to explore Bitcoin mining for grid balance and surplus energy use.
- The study emphasizes renewable energy integration and economic opportunities like job creation.
- Inspired by Texas, Bern aims to position itself as a Bitcoin mining hub.
- Meanwhile, Lugano unveils a statue honoring Bitcoin’s mysterious creator, Satoshi Nakamoto.
Switzerland is stepping into the future of energy and cryptocurrency. In a groundbreaking decision, the Canton of Bern’s Parliament approved a proposal to study Bitcoin mining as a way to balance the energy grid and make use of surplus renewable energy.
https://x.com/BTC_Archive/status/1862215081007685905
The vote, which passed 85 to 46, highlights Switzerland’s willingness to embrace innovative technologies to address real-world challenges.
Why Bitcoin Mining?
The legislation, introduced by a multi-party Parliamentary Group in March, seeks to explore Bitcoin mining’s potential to stabilize Bern’s energy grid while promoting renewable energy. Bitcoin mining, often criticized for its energy consumption, can actually serve as a powerful tool to absorb surplus energy during periods of low demand.
Dennis Porter, CEO and Co-Founder of the Satoshi Action Fund, was instrumental in drafting the proposal. Sharing the news on social media, Porter explained the vision behind the initiative:
“The study will focus on how Bitcoin mining can balance the grid and utilize wasted energy.”
The study’s goals include identifying sustainable mining practices, improving energy efficiency, and fostering economic growth by creating jobs and attracting tech-focused businesses to Bern.
Learning from Texas: A Model for Success
The Parliamentary Group is taking inspiration from Texas, where Bitcoin mining has been successfully integrated into energy policies. In Texas, miners act as flexible energy consumers, helping to balance the grid by ramping up operations during periods of excess energy and scaling down during peak demand.
https://x.com/Dennis_Porter_/status/1862228920093089970
Bern hopes to replicate this model, using Bitcoin mining to enhance energy efficiency while positioning itself as a hub for crypto innovation. By adopting this dual-purpose strategy, Bern aims to address energy challenges and simultaneously create new economic opportunities.
While Swiss law does not currently recognize Bitcoin as legal tender, the initiative signals a growing openness to leveraging blockchain technology for public benefit.
A Tribute to Satoshi Nakamoto in Lugano
As Bern explores the practical applications of Bitcoin, the Swiss city of Lugano recently honored its mysterious creator, Satoshi Nakamoto. On November 24, the city unveiled a statue dedicated to Nakamoto as part of the 2024 Plan B Lugano forum.
https://x.com/chrisb_btc/status/1849794663760236739
The statue, located at Lugano’s Villa Ciani, features a cloaked figure holding a computer — a nod to Nakamoto’s anonymity and groundbreaking contribution to decentralized finance. The abstract design reflects the enigmatic nature of Bitcoin’s creator, whose identity remains unknown.
Tether, a key collaborator in the initiative, celebrated Nakamoto’s influence. “This statue is a tribute to the profound impact Nakamoto has had on the global financial system and the spirit of decentralized innovation,” said Tether’s CEO.
