French Lawmakers Propose Bitcoin Mining Experiment

A group of French parliamentarians has proposed a five-year pilot project to use surplus electricity for mining the leading cryptocurrency. This is outlined in a bill dated July 11.

According to the authors of the initiative, cryptocurrency mining using excess electricity could enhance the resilience of the energy system. Currently, companies sell surplus energy at a loss due to the lack of storage options. Mining could turn these losses into revenue: the Association for the Development of Digital Assets (ADAN) estimates that 1 GW of power could generate $100-150 million annually.

The proposal would also reduce the burden on nuclear power plants, which are currently forced to adjust production based on renewable sources, leading to equipment wear and tear.

“Another advantage of bitcoin mining is the production of heat, which is usually considered waste. It can be used to heat homes, agricultural greenhouses, and for industrial purposes,” the parliamentarians emphasized.

They noted that the initiative is technically feasible. A similar approach is already successfully applied in Iceland, Norway, and Sweden. If the law is passed, data centers for digital asset mining will appear in France. They will be located near power plants, in abandoned factories, or other buildings.

Tightening Crypto Regulations in Europe

The new European anti-money laundering regulator AMLA, which began operations in July, has warned crypto companies about the introduction of new rules, according to the Financial Times.

From July 2027, crypto exchanges and other digital asset providers will be prohibited from using anonymous wallets and privacy coins like Monero. They will also be required to provide authorities with direct access to client account data.

AMLA head Bruna Seko noted that it is important for the regulator to ensure that industry participants have no ties to money laundering and terrorism financing. According to her, the crypto market in the EU remains overly fragmented, with national authorities interpreting and applying MiCA provisions differently.

Back in May, two Tether-supported companies — StablR and Oobit — introduced stablecoins in Europe that comply with the new European regulation.

In June, the largest American crypto exchange Coinbase received a MiCA license from the Luxembourg Financial Sector Supervisory Commission.