TEPCO's Agile Energy X Mines Bitcoin Using Surplus Renewable Energy, Eyes $2.5 Billion

Sep 9, 2024, 04:29 AM

Agile Energy X, a subsidiary of Japan's largest power company, Tokyo Electric Power Company (TEPCO) and part of Tokyo Grid, is leveraging surplus renewable energy to mine Bitcoin. The initiative involves installing Bitcoin mining machines near solar farms in Gunma and Tochigi prefectures. This approach aims to utilize excess renewable energy capacity that would otherwise go to waste, potentially generating $2.5 billion annually. Kenji Tateiwa, president of Agile Energy X, believes that the success of this project could encourage further adoption of green energy solutions.