Tokyo Electric Power Company (TEPCO) and its subsidiary Agile Energy X revealed the potential for generating up to $2.5 billion annually by redirecting Japan's surplus electricity to Bitcoin mining.
Utilization of Surplus Electricity
Since 2020, TEPCO has been developing a system to trade surplus electricity to prevent waste. Agile Energy X was launched in 2022 to optimize this surplus energy usage.
Potential Profits from Mining
Agile Energy X estimates that using Japan's surplus electricity for Bitcoin mining could generate approximately $2.5 billion annually. This figure accounts for current market conditions and electricity costs.
Environmental Impact
Bitcoin mining requires substantial electricity, raising environmental concerns. However, using surplus energy that would otherwise be wasted can minimize the environmental footprint.
Agile Energy X's report highlights the significant potential for Japan to generate revenue from surplus electricity through Bitcoin mining. This could serve as a model for other countries seeking efficient energy solutions.
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