Value

Bitcoin

Renewable Energy

A subsidiary of the Tokyo Electric Power Company (TEPCO) is exploring an innovative approach to reduce renewable energy waste by engaging in Bitcoin mining. Agile Energy X, a TEPCO subsidiary based in Tokyo, is experimenting with harnessing surplus solar energy to power Bitcoin mining operations. 
According to Agile Energy X President Kenji Tateiwa, this initiative aims to reduce energy waste while promoting the use of green energy. In an interview with Asahi Shimbun on September 8, Tateiwa explained that the project was inspired by Japan’s “output control” practices. 
These practices involve intentionally limiting renewable energy production to balance supply and demand or due to transmission constraints. As a result, a significant amount of renewable energy goes unused. 
Agile Energy X has already installed Bitcoin mining machines near solar farms in the Gunma and Tochigi prefectures, located outside Tokyo. The goal is to capture and utilize excess solar energy that would otherwise be wasted. 
In 2023, approximately 1,920 gigawatt-hours of power in Japan were subjected to output control, equivalent to the annual energy consumption of 450,000 households, according to Asahi Shimbun. 
Projections from Agile Energy X suggest that if renewable energy makes up 50% of Japan’s energy supply, as much as 240,000 gigawatt-hours could be wasted each year due to curtailment. The company estimates that using just 10% of this surplus energy for Bitcoin mining could generate around 360 billion yen (approximately $2.5 billion) annually. 
Tateiwa emphasized that Bitcoin mining could generate additional profits, encouraging the adoption of more renewable energy sources. This would make it financially viable for companies to invest in and expand green energy production. 
The concept has caught the attention of international stakeholders. Fred Thiel, CEO of Bitcoin mining firm Marathon Digital Holdings, praised the initiative, suggesting that U.S. energy companies should take a similar approach to renewable energy utilization. He expressed his thoughts, noting Japan’s forward-thinking research into Bitcoin while other regions, such as the European Union, remain more critical of the practice. 
Crypto mining companies in the United States, particularly in Texas, have adopted similar strategies. Texas, known for its abundance of renewable energy, is a leading state in utilizing excess energy to balance grid supply and demand, an approach that aligns with Agile Energy X’s efforts in Japan. 
The post <a href="https://www.unlock-bc.com/128415/bitcoin-mining-transforms-wasted-renewable-energy-into-value/">Bitcoin Mining Transforms Wasted Renewable Energy into Value</a> appeared first on <a href="https://www.unlock-bc.com">UNLOCK Blockchain</a>.

Bitcoin Mining Transforms Wasted Renewable Energy into Value

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