TEPCO Using Surplus Renewables to Mine Bitcoin in Japan

Tokyo Electric Power Company (TEPCO), the largest electricity provider in Japan, has initiated Bitcoin mining through its subsidiary Agile Energy X, utilizing excess renewable energy that would otherwise go unused, according to reports from Asahi.

BREAKING: Japan's top power firm TEPCO is now mining #Bitcoin by harnessing surplus energy. pic.twitter.com/ZrsmbV7mv6

— Bitcoin Magazine (@BitcoinMagazine) September 9, 2024

With more than 27 million residential and commercial consumers, TEPCO founded Agile Energy in 2022, and they are currently investigating Bitcoin mining powered by excess renewable energy. The subsidiary has set up mining equipment adjacent to solar farms in the Gunma and Tochigi prefectures of Japan.

This initiative aids in minimizing the wasted green energy from solar and wind farms, which are often required to reduce output to prevent overloading Japan’s electrical grid. This energy is now redirected to Bitcoin production.

“Green energy providers have to run their operations under the premise that a portion of their generated power is wasted,” stated Agile Energy President Kenji Tateiwa. “If Bitcoin could offer a new revenue stream for similar energy producers, who are facing over-investment issues, this would encourage more green energy development.”

The initiative illustrates how Bitcoin mining can drive the expansion of renewable energy by offering producers additional income opportunities. Tateiwa highlighted that profits from Bitcoin could motivate more investments in clean energy to fuel the mining operations.

Other nations are also utilizing excess renewable resources for Bitcoin mining, such as El Salvador, which harnesses its geothermal energy. This challenges the misconception that Bitcoin mining is environmentally damaging, as much of the energy used is sourced from what would otherwise be wasted.

Increasing numbers of companies and nations are discovering ways to convert waste and surplus energy into one of the most solid forms of currency available. As renewable energy sources continue to grow, Bitcoin mining will play a role in reducing wasted energy and emissions.