In a significant move, the Swiss canton of Bern’s parliament has voted to commission a study on the feasibility of Bitcoin mining. Despite opposition from the canton’s executive Government Council, the multiparty Bitcoin Parliamentary Group is celebrating this decision as a victory.
A Closer Look at the Decision
The motion to study Bitcoin mining passed with a decisive vote of 85 to 46. Proposed by the 23-member Bitcoin Parliamentary Group, the report will investigate several key areas:
- Opportunities to utilize excess energy within the canton.
- Potential partnerships with Swiss Bitcoin miners.
- How Bitcoin mining could contribute to grid stability in the region.
The proposal looks toward the U.S. state of Texas as a model for integrating Bitcoin mining into energy policy. Advocates argue that Bitcoin mining could attract businesses, create jobs, promote renewable energy, and stabilize electricity grids in Bern.
Challenges and Opposition
The Government Council, however, has raised several concerns. It stated that energy use is an international issue since Bern exports energy, making local mining less relevant. Additionally, they pointed out that other data centers are also increasing energy demand, energy storage technology is advancing, and Bitcoin mining remains volatile due to market trends. The Council also highlighted that Bitcoin is not legal tender and thus falls outside the Swiss National Bank’s jurisdiction.
Despite these objections, supporters view the motion’s success as a positive shift in the narrative around Bitcoin. Member of Parliament Samuel Kullmann noted, “Even though the debate was heavily influenced by classic FUD arguments and missed the point, the proposal ultimately found a clear majority. This result is an expression of the fact that the narrative on Bitcoin is changing.”
What’s Next for Bitcoin in Bern?
This report is part of several initiatives introduced by the Bitcoin Parliamentary Group. The study could open doors for future collaboration between renewable energy projects and Bitcoin mining companies in Switzerland. By leveraging its resources and stability, Bern has the potential to position itself as a hub for innovation in energy and blockchain technology.
