Bitcoin: France Is About to Mess Everything Up

After Texas, it is now Russia’s turn to use the bitcoin industry to balance its electrical network and reduce the bill. When will France wake up? And Germany?

Russia bets on bitcoin

We recently reported that Russia is already powering the second-largest computing power in the world thanks to its flagship Bitriver. Things seem to be accelerating further with the management of the Russian electrical network Rosseti, which wants to use its surplus electricity production for the bitcoin industry.

The Russian public news agency TASS reports that Rosseti wishes to coordinate the installation of bitcoin miners and develop a tool to reduce their electricity consumption if necessary.

Russia follows in the footsteps of Texas, where miners have built a symbiotic relationship with ERCOT, the local network operator. Russians already control 17% of the Bitcoin network’s computing power. It’s about 40% for the United States. Europeans share the crumbs.

For Rosseti, “the bitcoin industry will allow the consumption of surplus electricity while increasing the base load electricity consumption of the network. This will result in additional revenue for the company and additional tax revenue for the government.”

The government of François Bayrou, EDF, and RTE (Electricity Transport Network of France) would do well to ask themselves some questions. Especially at a time when 70 billion euros are needed to finance the next six nuclear reactors.

Unfortunately, the debate is still tainted by ideological biases that prevent recognizing that bitcoin is an asset for the energy transition. It is enough to look at the costs of the intermittency of renewable energies to understand this.

Bitcoin and the intermittency problem

The intermittency of electricity production refers to the variability and unpredictability of certain sources of renewable energy. Solar panels do not produce electricity at night, and wind turbines depend on erratic winds.

This intermittency makes them uncompetitive against carbon and nuclear energies. As a result, subsidies are necessary. They amount to 20 billion euros per year in Germany, with projections estimating 23 billion by 2029.

This extra cost is largely due to the maintenance of thermal power plants ‘just in case.’ The situation is so absurd that Germany has closed its nuclear power plants that could have operated for several more decades.

Not to mention the installation costs of new high-voltage lines or the trade deficit with China. The European Commission estimated that Chinese companies produce solar panels for 16 to 19 cents per watt of production capacity. It’s 24 to 30 cents for their European counterparts, who are closing one after another.

Let’s also remember that nuclear plants are not designed to accommodate the intermittency of renewable energies. The Nuclear Safety Authority estimates that these unexpected production variations partly explain the crisis that brought half of the French reactors to a halt in 2022. This “stop and go” is indeed essential with the rise of renewable energies.

But is there no alternative to the closure or degradation of nuclear power plants? Why sacrifice an invaluable technological heritage if the bitcoin industry can offset the extra costs caused by the energy transition?

Especially since it is also a great tool for managing the electrical network to accommodate the problematic spikes in energy consumption.

Integrate bitcoin miners into the grid

Texas uses what are called “gas peaker plants.” These peaking thermal power plants operate during peak demand times or sudden demand fluctuations. That is, only 3% of the time. Instead, dams are primarily used in France.

The other solution is to pay households to reduce their electricity consumption. Or to industry, particularly aluminum foundries or steel mills.

However, households often revert. The small discount on the bill does not offset the ordeal of a cold or heat wave. As for foundries, their reduction lasts no more than four hours, at the risk of an industrial catastrophe.

Texans no longer need these gas plants. They have the bitcoin industry, which can cease operations in the blink of an eye and for as long as necessary.

Most Texas miners participate in the load-shedding programs of the electricity network operator ERCOT. The symbiosis is such that its CEO recently canceled the construction of 10 gas plants. They are no longer necessary due to the 3 GW that miners can provide back to the grid on demand.

It is more interesting to have flexible electricity consumers than thermal power plants running at a low speed all year round. Brad Jones praised miners for their contribution to “keeping energy costs low for Texans”.

And France? And Germany? The figures are overwhelming:

Les contrats à terme sur l'électricité 🇫🇷 pour 2026 sont environ 27 % moins chers que l’équivalent 🇩🇪.

Quand je me regarde je me désole, quand je me compare je me console pic.twitter.com/dlellH5o8D

— Documentaire et Vérité (@DocuVerite) January 29, 2025

It’s time for the debate to evolve. Europe must not be the laughingstock. Things are changing in Germany, where the former Minister of Economy is calling for a strategic reserve of bitcoins. Even the Czech Republic is getting involved!

Will France be at the meeting?