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Tokyo Electric Power Company (Tepco) through its subsidiary Agile Energy X is innovating in the renewable energy space by using wasted solar power for Bitcoin mining near Tokyo. This groundbreaking approach not only conserves energy but also enhances corporate earnings, as the firm could generate approximately 360 billion Japanese yen ($2.5 billion) annually by utilizing just 10% of surplus power.
Agile Energy X is operating mining rigs near solar farms in Gunma and Tochigi prefectures to capitalize on energy otherwise lost due to Japan’s “output control” practices. These practices involve reducing energy production to manage supply and demand, which in 2023 led to 1,920 gigawatt-hours of power being curtailed, equivalent to the yearly consumption of 450,000 households.
The initiative could revolutionize how utilities manage renewable resources, positioning Japan as a leader in sustainable cryptocurrency mining. This contrasts sharply with EU policies, drawing global attention to the potential of integrating Bitcoin mining into green energy strategies for enhanced utility efficiency and profitability.
