Tokyo Electric Power Company's subsidiary in Japan conducts Bitcoin mining experiments using surplus renewable energy

ChainCatcher News, Tokyo Electric Power Company's subsidiary Agile Energy X in Japan has begun experimenting with Bitcoin mining using surplus power from renewable energy sources such as solar energy. The company has installed mining equipment next to solar power plants in Tochigi and Gunma Prefectures as part of its green energy utilization efforts.

Company representative Kenji Tateiwa stated that mining can provide a new source of revenue for power generation companies and promote further adoption of green energy.

The Japanese government plans to achieve net-zero greenhouse gas emissions, or carbon neutrality, by 2050, and it is expected that the share of renewable energy will further increase in the future. According to Agile Energy X's estimates, if renewable energy accounts for nearly half of the national power supply, approximately equivalent to the annual electricity consumption of 70 million households will be wasted. If 10% of this can be utilized for Bitcoin mining, it is expected to generate an annual revenue of about 360 billion yen (2.5 billion USD).