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France Mulling 5-Year Bitcoin Mining Plan With Surplus Electricity
The French government has unveiled a plan to utilize its surplus electricity in the cryptocurrency industry, particularly for Bitcoin mining. The proposed bill aims to redirect excess energy from nuclear power plants and other sources towards Bitcoin mining activities over the next five years.
According to reports, France is expected to generate an annual revenue of up to $150 million from this venture. This move comes as a response to the growing pressure on the French energy grid due to the increasing adoption of intermittent renewable energy sources such as wind and solar power. The excess electricity generated by these sources has led to recurring imbalances in the grid, resulting in the sale of electricity at a loss.
As a result, lawmakers are seeking an alternative use for this surplus energy, which is believed to be around 1 gigawatt of excess capacity. Bitcoin mining, with its unique ability to utilize any source of power, appears to be a viable solution to generate revenue from an otherwise wasted resource.
Under the proposed plan, new Bitcoin mining centers will be set up alongside existing nuclear power plants. Not only will this ensure that the energy is not lost, but it also allows for the heat generated by these activities to be redirected towards district heating systems, greenhouses, or industrial operations.
Source: www.coinspeaker.com
