Key Takeaways
- TEPCO is mining Bitcoin using surplus renewable energy.
- Agile Energy X powers Bitcoin mining with excess solar and wind energy.
- Countries like El Salvador are also using renewable energy to mine Bitcoin.
Tokyo Electric Power Company (TEPCO), Japan’s largest electricity provider, has begun mining Bitcoin via its subsidiary, Agile Energy X. Established in 2022, Agile Energy X utilizes excess renewable energy that would otherwise go to waste. The project, first reported by Asahi, involves installing mining rigs near solar farms in Japan’s Gunma and Tochigi prefectures.
With over 27 million customers, TEPCO is looking to reduce wasted energy from solar and wind farms that often curtail production to avoid overloading the grid. Now, this surplus energy is redirected to mine Bitcoin.
Kenji Tateiwa, President of Agile Energy X, commented:
Green energy producers have to operate their businesses on the assumption that part of the power they generate is wasted… If bitcoins were to provide a new source of income… that would prompt more green energy to be introduced.
Bitcoin mining is offering a new revenue stream for renewable energy producers, and similar efforts are being seen in other countries, such as El Salvador, which mines Bitcoin using geothermal energy.
This shift challenges the perception that Bitcoin mining is harmful to the environment, as it increasingly taps into energy sources that would otherwise be wasted.
