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Switzerland’s Canton of Bern has approved a proposal to explore
mining as a solution for excess energy utilization and power grid stabilization.
The initiative positions Bern at the forefront of technological innovation, potentially transforming it into a hub for crypto-related activities, like Lugano.
🟠🟠Bitcoin & Canton of Bern🟠🟠:
We successfully passed a postulat requiring the government to assess integrating Bitcoin mining into Bern’s energy strategy. Good news: Switzerland’s summer solar power surplus will make Bitcoin mining highly competitive globally.… pic.twitter.com/38aOu4BZtC
— Korab Rashiti 🐍 (@KorabRashiti1) November 28, 2024
Motion Received Backing From Various Political Factions Within Bern
On 28 November 20024, the Grand Council of Bern voted decisively, 85 to 46, in favor of a proposal that aims to investigate the feasibility of Bitcoin mining as a means to utilize surplus energy and stabilize the power grid.
The motion, spearheaded by Samuel Kullmann, received backing from various political factions within the canton, including some traditionally conservative parties.
Kullmann noted that despite debates clouded by fear, uncertainty, and doubt (FUD), the proposal’s approval indicates a growing recognition of Bitcoin’s role in technological advancement.
The council’s decision reflects an openness to exploring innovative solutions that could provide Bern with a competitive edge over other regions aspiring to become crypto innovation hubs.
Read more: Switzerland’s Stock Exchange Considers Launching Crypto Exchange For Spot Trading, Derivatives
Tether CEO Impressed By Crypto Regulations In Switzerland
Tether CEO Paolo Ardoino also expressed how impressed he was with the fact that Lugano accepts taxes in Bitcoin.
“I come from a small town. My grandparents trusted three people—the priest, the doctor, and the banker. I think that banker should go back to being the banker of the old times.” We are a society. Society was born to be peer-to-peer.
Applauding Foletti, who was elected again this year as the mayor, Ardoino said that “Lugano has become this huge showcase in the world for accepting taxes being paid in Bitcoin.”
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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