Agile Energy X, a company based in Tokyo, Japan, and a subsidiary of the Tokyo Electric Power Company (TEPCO), is reportedly exploring opportunities in Bitcoin mining.
As stated in recent reports, the organization aims to enhance its operations through Bitcoin mining, believing it can effectively utilize excess renewable energy.
It’s noteworthy that TEPCO is not only the largest electric utility provider in Japan but also ranks as the fourth largest globally.
Kenji Tateiwa, the president of Agile Energy X Inc., commented:
What we are undertaking is unprecedented in Japan. The success of our model could lead to an increase in the adoption of green energy.
The executive revealed that the concept originated in 2018, when significant discussions around “output power control” emerged. The Bitcoin mining initiative is designed to assist energy producers in regulating their output through various methods, such as temporarily ceasing power generation and utilizing excess supply. This is particularly pertinent for photovoltaic energy, given that its production peaks during daylight hours.
However, the company has not yet commenced Bitcoin mining. Tateiwa has proposed this innovative in-house project, which will undergo rigorous testing through several demonstrations.
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