TEPCO Subsidiaries Mining Bitcoin Using Surplus Energy

TEPCO's subsidiary mines Bitcoin using surplus energy (Photo; Doc. Dlit)

JAKARTA - Agile Energy X, a subsidiary of Tokyo Electric Power Company (TEPCO), has started mining Bitcoin using the remaining energy from solar power plants. Operating in the prefectures of Tochigi and Gunma, Agile Energy X utilizes unused power from normally wasted solar fields, an approach rarely takes place in Japan.

TEPCO, as one of Japan's largest electricity providers, which serves more than 27 million homes and businesses, operates Agile Energy X as a step to reduce energy waste while entering the growing crypto market. The company set up a Bitcoin mining unit near the solar field to take advantage of excess renewable energy.

Quoted from Bitcoin.com News, Kenji Tateiwa, President of Agile Energy X, the green energy generated in Japan is often not fully used, and part of its output is controlled or restricted. This results in a potentially large waste of energy. What we do is very rare in Japan. Our success can encourage more use of green energy," Tateiwa said.

Agile Energy X realizes that when renewable energy accounts for a significant portion of Japan's energy system, as projected to reach 50% by 2050, energy waste potential also increases. According to company simulations, about 240,000 gigawatt-hours of energy can be wasted. With Bitcoin mining, this excess energy can be diverted to generate additional revenue.

Tateiwa added that Bitcoin mining not only utilizes wasted energy, but also opens up new opportunities for green energy producers. If this model is successfully implemented widely, renewable energy producers can get new sources of income from Bitcoin, helping to encourage further investment in clean energy.

Along with Japan's plan to become a carbon-free country by 2050, Bitcoin mining from unused renewable energy offers a double solution to reducing energy waste while diversifying energy company revenues. If more electric manufacturers realize this potential, we will probably see a significant increase in green energy production," Tateiwa said.