Europe's Only Hope Is Bitcoin | Harald Rauter

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Europe has lost the manufacturing race to China, the digitization race to the US, and now pays the highest energy prices in the world. At BTC Prague 2026, Harald Rauter argues the way back runs through one idea: power is prosperity, and there is no such thing as a low energy rich country. In this keynote he breaks down the energy trilemma that broke Europe's gas bet, why the world is using more power and more fossil fuels than ever, and how Bitcoin miners rebuilt as silent heating devices can turn mining's biggest waste product into a path toward European energy independence. With 5,500 terawatt hours of heating demand on the continent, capturing just 30% of the market would represent 5x the hash rate of the entire Bitcoin network. This is the case for the largest place hashing can live, one heating device at a time.

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