UPDATE: French lawmakers have just announced a groundbreaking plan that could generate up to $150 million annually from Bitcoin mining. This initiative, outlined in a bill submitted to the French National Assembly on July 11, aims to harness excess electricity during low grid demand for Bitcoin mining operations.
The proposed five-year pilot program would enable electricity producers to redirect surplus energy—often wasted—to Bitcoin mining, potentially generating between $100 million and $150 million each year, according to data from the Association for the Development of Digital Assets (ADAN). This revenue could significantly offset the fixed costs of maintaining France’s nuclear energy infrastructure while monetizing energy that would otherwise be sold at a loss.
Lawmakers are responding to increasing pressure on France’s energy grid, exacerbated by the growth of intermittent renewable sources like wind and solar. They emphasized that the current imbalance in the grid leads to episodes of overproduction, forcing electricity producers to sell at a loss due to inadequate storage facilities. In their words, “These unutilized surpluses represent an unacceptable economic and energy loss.”
To tackle this issue, French lawmakers propose co-locating Bitcoin mining centers with nuclear production facilities. These centers would only operate during periods of excess energy, providing a flexible solution for grid stabilization without compromising consumer supply. They noted, “Existing infrastructure, currently underutilized or closed, could accommodate this new infrastructure.”
The legislation also highlights the secondary benefits of Bitcoin mining, particularly in heat recovery. Mining rigs can generate substantial heat that can be redirected to district heating systems, greenhouses, or industrial operations. Lawmakers pointed to successful examples from countries like Finland, where Bitcoin mining heat supports agriculture and sustainable infrastructure.
If approved, the pilot program would commence immediately and last approximately five years, with oversight from the French Council of State. A comprehensive evaluation report is set to be released after just six months, assessing the feasibility of broader adoption across the country.
This initiative places France among a growing number of countries, including Pakistan, Belarus, and Texas in the US, that are exploring Bitcoin mining as a strategic solution to electricity oversupply. As developments unfold, the potential economic impact of this legislation could resonate far beyond France’s borders, making it a significant topic for global discourse.
Stay tuned for further updates as this story develops.
