Agile Energy X, a subsidiary of Tokyo Electric Power Company Holdings, has initiated an investigation into Bitcoin mining with the assistance of surplus renewable energy, as per a recent report by The Asahi Shimbun.
The organization has already installed mining apparatus in the prefectures of Gunma and Tochigi. It concentrates on the regions where it is feasible to employ surplus renewable energy.
Kyushu, the southwestern most of the country’s primary islands, is frequently confronted with dormant electricity that is produced from undeveloped energy sources.
Output constraints necessitate that firms that generate output cease producing additional output during periods of declining demand. This implies that they are required to dispose of any excess electricity.
In October 2018, Kyushu initiated the implementation of such measures. This was the moment when Kenji Tateiwa, the CEO of Agile Energy X, conceived the concept of utilizing surplus energy for Bitcoin mining. The region experienced 74 days of output controls in the subsequent year.
Shikoku and Hokkaido, including other regions of Japan, have encountered comparable challenges. The Asahi Shimbun reported that output constraints impacted a staggering 1,920 gigawatt-hours of power last year.
At present, coal continues to be a critical component of Japan’s energy matrix. Nevertheless, the anticipated increase in the quantity of squandered power is a result of the incremental transition to renewable energy. By utilizing 10% of the wasted power, it may be feasible to mine up to $2.5 billion in Bitcoin annually.
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