Financial reports from Agile Energy X or TEPCO

TEPCO's Agile Energy X to Mine Bitcoin Using Surplus Renewable Energy, Aiming for $2.5 Billion Annually

Sep 9, 2024, 08:54 AM

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