Agile Energy X, a subsidiary of Tokyo Electric Power Company (Tepco), has started using excess renewable energy for Bitcoin mining. This initiative aims to prevent energy waste and support the cryptocurrency ecosystem.
Goals of Agile Energy X
Agile Energy X President Kenji Tateiwa stated that their goal is to prevent energy waste and support the cryptocurrency ecosystem by using excess solar energy for Bitcoin mining. Tateiwa noted that their actions are unique in Japan, and the success of the initiative could encourage the introduction of more green energy.
Benefits of the Initiative
The Agile Energy X initiative aims not only to prevent the waste of excess energy but also to contribute to the sustainability of Bitcoin mining, which in turn should foster the introduction of more green energy sources.
Economic Potential
The company estimates that using 10 percent of excess energy for Bitcoin mining could generate approximately ¥360 billion ($2.5 billion) worth of BTC each year. Tateiwa added that the profits from Bitcoin mining could strengthen corporate governance and allow more green energy to be deployed.
Agile Energy X aims to use excess renewable energy for Bitcoin mining, which may help prevent energy waste, support the cryptocurrency ecosystem, and potentially lead to significant economic growth.
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