- Start of Bitcoin Mining
- Surplus Energy Issue in Japan
- Future Plans
Agile Energy X, a subsidiary of Tokyo Electric Power Company Holdings, has started using surplus green energy for Bitcoin mining in Tochigi and Gunma prefectures.
Start of Bitcoin Mining
Agile Energy X has set up mining equipment in the Tochigi and Gunma prefectures. It focuses on locations where it is possible to utilize excess renewable energy.
Surplus Energy Issue in Japan
Kyushu frequently deals with untapped electricity generated from renewable energy sources. According to a 2021 report, the equivalent of several nuclear reactors' worth of generating capacity could be wasted within a day. Output controls require generating firms to stop producing additional output during periods of waning demand, which means they have to discard surplus electricity. Kyushu started dealing with such measures in October 2018, leading to 74 days of output controls the following year. Other regions in Japan, such as Shikoku and Hokkaido, have faced similar problems. Last year, 1,920 gigawatt-hours of power were affected by output controls.
Future Plans
Currently, coal remains a key part of Japan's energy mix. However, as the country transitions to renewable energy, the amount of wasted power is expected to increase. It is estimated that up to $2.5 billion worth of Bitcoin could be mined annually by utilizing 10% of the wasted power.
Agile Energy X views the use of surplus renewable energy for Bitcoin mining as a promising solution to the problem of untapped power in Japan.
