TEPCO Subsidiary Ventures into Bitcoin Mining to Harness Wasted Renewable Energy
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
A subsidiary of Tokyo Electric Power Co. (TEPCO) is venturing into Bitcoin mining, aiming to utilize wasted renewable energy in a move to promote green energy usage.
The TEPCO subsidiary, Agile Energy X, is experimenting with using excess solar energy to power Bitcoin mining operations.
According to Kenji Tateiwa, president of Agile Energy X, if the project proves successful, it could encourage the introduction of more renewable energy into Japan’s power grid.
“What we are doing has few parallels in Japan,” Tateiwa said. “Success of our framework would prompt more green energy to be introduced.”
The initiative was driven by the country’s “output control” practices, which involve curtailing renewable energy production to balance supply and demand or manage transmission constraints.
Tateiwa explained that this process often leads to significant energy waste, prompting Agile Energy X to explore alternative uses for surplus power.
To address this issue, the company has installed Bitcoin mining machines near solar farms in Gunma and Tochigi prefectures, located near Tokyo.
These installations aim to capture and use otherwise wasted energy.
#TEPCO's subsidiary Agile Energy X is exploring #Bitcoin mining using surplus renewable energy to prevent wastage in #Japan.
The initiative involves harnessing unused solar power near #Tokyo, aiming to reduce energy curtailment and promote green energy through profitable… pic.twitter.com/OLW8n3r6xC
The Asahi Shimbun reported that in 2023, Japan’s output control practices led to the waste of 1,920
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