French government strictly regulates energy cloud sales; safeguarding state assets is the top priority

Recently, the French government has implemented strict protective measures for the transfer of shares in the state-owned energy cloud. According to reports, this transaction involves the transfer of majority shares to a U.S. Bitcoin mining company, but the French government explicitly requires the investor, NJJ Capital, to retain a 10% stake to mitigate risks. This approach reflects France’s awareness of safeguarding its energy infrastructure from foreign investment.

Strict Limitations on Shareholding Structure to Prevent Asset Control Loss

The core of the deal is the share distribution plan. According to government regulations, although the U.S. Bitcoin mining company becomes the major shareholder, NJJ Capital, a domestic investment firm, must hold at least 10% of the shares. This is not merely a financial arrangement but a protective mechanism by the French government—ensuring oversight and influence over critical energy assets through the participation of French capital.

Why Is Strict Review Necessary for Energy Strategic Security?

This policy reveals the French government’s deeper considerations: while Bitcoin mining is a commercial activity, mining enterprises demand significant electricity resources, which impact national energy system stability. Allowing foreign control without restrictions could affect France’s authority over energy distribution and electricity pricing policies. Setting a domestic capital share threshold is essentially a measure to ensure that such critical infrastructure remains within the scope of national interests.

France’s move is not an isolated case—more countries are adopting similar strict review systems for foreign investments in strategic industries such as energy, communications, and transportation, to protect their strategic autonomy amid opening markets.