🌋 Japanese Show Interest in Eco-Friendly Bitcoin Mining
posted 9 Sept 2024
Japanese company Agile Energy X started using surplus renewable energy for Bitcoin mining. According to company president Kenji Tateiwa, this initiative will help balance supply and demand in the energy grid while boosting the popularity of green energy sources.
Success of our framework would prompt more green energy to be introduced,said Kenji Tateiwa.
Agile Energy X first experimented with Bitcoin mining in 2022 by setting up their facilities near a solar power plant. For their current project, the company runs mining farms only during periods of significant energy surplus that cannot be stored in batteries.
Based on the company’s calculations, and in line with the government’s green energy expansion plans, more than 240,000 GWh of energy could go unused. However, if just 10% of this capacity is used for mining, it could generate $2.5 billion in annual revenue at current prices.
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