30s Summary

The Parliament of Bern Canton in Switzerland has voted to investigate the potential of Bitcoin mining in the region. Proposed by 23 members of the Parliament, the study will examine possible energy sources, potential partnerships with Swiss Bitcoin miners, and the impact on the local electricity network. The move was inspired by the state of Texas in the US, with proponents arguing that it could attract businesses and promote the use of renewable energy. The idea was first mooted in March, despite opposition from government leaders.

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In Switzerland’s Bern Canton (which is like a state), folks in Parliament just decided to start researching Bitcoin mining. Their official government leaders aren’t too thrilled about it, but people who want more Bitcoin mining are quite happy with the decision.

This whole idea came from a group of 23 members in Parliament who are really into Bitcoin. Parliament members voted 85 to 46 to begin the study. The research will look at where extra energy could come from in the canton, see if they should work with Swiss Bitcoin miners, and find out if doing more Bitcoin mining could make the electricity network more reliable.

Inspiring this move is the US state of Texas. The group thinks by encouraging Bitcoin mining, their canton could bring in mining companies and jobs, promote the use of renewable energy, and make their power supply more steady.

The plan to research Bitcoin mining was introduced in March and this is just another step from the group promoting this. In September, the government leaders discouraged the idea. But Samuel Kullmann, a member of parliament, insisted:

“Even though the argument was full of traditional scare tactics and wasn’t really focused, the proposal ultimately won the majority. […] This result shows that people’s beliefs about Bitcoin are changing.”

But, the Government Council countered by saying energy use in Bern Canton is a global, not local, issue because they export energy. They also mentioned energy consumption from other data centers is growing and energy storage technology is improving. Plus, the value of Bitcoin can fluctuate and it’s not legal tender, so the Swiss National Bank can’t control it.

Meanwhile, Dennis Porter, a co-founder of the Satoshi Action Fund and Satoshi Action Education, helped prepare the proposal for the report. He was also a big player in creating the “Bitcoin rights” law passed recently in Pennsylvania.

Ripple CEO Brad Garlinghouse often speaks highly of Switzerland for being a crypto supporter. The city of Lugano in Switzerland, known for being enabler of crypto, organizes the annual Plan B Forum. Also, the city of Zug is a hub for the Ethereum Foundation and lots of blockchain companies.