TEPCO: Japanese Energy Provider Starts Bitcoin Mining
The largest Japanese grid operator, TEPCO, has initiated a Bitcoin mining experiment through its subsidiary Agile Energy X. This initiative aims to utilize excess renewable energy that would otherwise go unused and contribute to a sustainable energy supply in Japan. According to Asahi Shimbun, the project seeks to prevent the waste of renewable energies by leveraging flexible mining systems as spontaneous consumers for surplus production.
KPMG reports indicate that more than 50% of the energy sources used in Bitcoin mining now come from renewables. Kenji Tateiwa, President of Agile Energy X, believes that while current profitability is limited, expanding infrastructure could make Bitcoin mining a viable solution for avoiding wasted energy. Founded in 2022 as a wholly owned subsidiary of TEPCO—known globally after the Fukushima nuclear disaster—the company hopes this venture will support Japan's goal of achieving 50% renewable energy by 2050.
Bitcoin Mining in Japan: $2.5 Billion Through Excess Renewable Energy?
Agile Energy X plans to use surplus green energy for Bitcoin mining with installations near solar farms in Gunma and Tochigi prefectures. The local media outlet Asahi Shimbun reported on simulations showing potential unutilized power if Japan reaches its target of 50% renewable energy by 2050; about ten percent utilization could generate $2.5 billion worth of BTC annually.
Kenji Tateiwa noted that controlling power output currently limits profitability but sees future expansion making it feasible to monetize excess green power via cryptocurrency mining—a sentiment echoed across broader industry shifts towards greener alternatives highlighted by Coinshares' report indicating over half (56%) of miners are using renewables today.
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