Tokyo Firm Turns Excess Solar Energy into Bitcoin
A Tokyo Electric Power Company (Tepco) subsidiary is exploring Bitcoin mining as a way to utilize surplus renewable energy.
Agile Energy X, based in Tokyo, is testing the use of excess solar power for Bitcoin mining operations. According to a report on September 8, the subsidiary’s president, Kenji Tateiwa, believes that successful implementation could lead to an increase in green energy adoption.
The initiative is inspired by Japan’s “output control” practices, where renewable energy production is intentionally reduced to manage supply and demand or to address transmission limitations. Agile Energy X has set up mining operations near solar farms in Gunma and Tochigi prefectures to capture and use energy that might otherwise be wasted.
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In 2023, Japan experienced output control affecting 1,920 gigawatt-hours of power, equivalent to the annual consumption of about 450,000 households. Agile Energy X estimates that if renewable energy comprised 50% of Japan’s power, up to 240,000 gigawatt-hours could be lost annually due to curtailment. The company projects that utilizing just 10% of this surplus for Bitcoin mining could yield approximately 360 billion yen ($2.5 billion) in Bitcoin each year.
Tateiwa suggested that profits from Bitcoin mining could incentivize more green energy projects. Fred Thiel, CEO of Marathon Digital Holdings, commented that while the EU debates Bitcoin, Japan is advancing its research. This approach parallels efforts by U.S. crypto mining companies, particularly in Texas, which also leverage renewable energy for grid stabilization.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
