Agile Energy X Ventures Into Bitcoin Mining to Utilize Wasted Renewable Energy
- 王林Original
- 2024-09-10 09:46:15573browse
A subsidiary of Tokyo Electric Power Co. (TEPCO), Agile Energy X, is venturing into Bitcoin mining to utilize wasted renewable energy.
Tokyo Electric Power Co. (TEPCO) subsidiary Agile Energy X is venturing into Bitcoin mining to put wasted renewable energy to good use. The Tokyo-based company is experimenting with using surplus solar energy to power Bitcoin mining machines, an initiative that could introduce more green energy, its president said on Sept. 8, as reported by Asahi Shimbun.
The aim is to counter practices like “output control” in Japan, where renewable electricity is intentionally generated in lower volumes to match consumption. Such cutbacks often result in idle power that could be put to productive use. To acquire this surplus, Agile Energy X has set up Bitcoin mining rigs near solar stations in Gunma and Tochigi prefectures.
output control in Japan targeted around 1,920 GWh of renewable energy, which is equivalent to the annual electricity consumption of about 450,000 households. By using this wasted energy for Bitcoin mining, Agile Energy X aims to achieve a more sustainable use of green energy.
A former employee of TEPCO's nuclear division, Tateiwa also encountered a similar issue at Kyushu Electric Power Co. in 2018, where they had to reduce output from renewables to avoid oversupply during peak solar hours. This sparked the idea of using Bitcoin mining to utilize renewable energy sources and avoid wastage.
Incorporated in February 2022, a new downstream renewable energy company, Agile Energy X, noted that if renewable energy reached 50% of Japan’s power supply, up to 240 GWh could be wasted through curtailment. To put this into perspective, allocating just 10% of this surplus to cryptocurrency mining could generate roughly $2.5 billion annually from the undertaking.
The project has garnered attention from international figures like Marathon Digital Holdings CEO Fred Thiel and ESG strategist Daniel Batten, who have praised Japan's approach to integrating Bitcoin mining and renewable energy.
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