Japan’s Agile Energy X Explores Green $BTC Mining, Could Generate $2.5B Revenue Annually

• Agile Energy X, a subsidiary of the Tokyo Electric Power Company (Tepco), has ventured into green Bitcoin ($BTC) mining.
• Japan can generate 360B yen annually by using surplus renewable energy to produce $BTC.
• The adoption of green energy sources, including solar, hydro, and SMRs, for $BTC mining is a growing global trend.

Tepco's subsidiary Agile Energy X explores green $BTC mining to optimize energy consumption. The company installed mining rigs near solar fields in Tochigi and Gunma, about 150 km from Tokyo.

Let's unpack what the energy giant's move means for Japan's mining industry.

Japan's Green Mining Potential

Japanese outlet Asahi Shimbun reported that the country implemented output control measuresfor a total of 1,920 gigawatt-hours of electricity in 2023. This is equivalent to the annual power consumption of approximately 450K households.

Agile Energy simulations suggest that if Japan achieves 50% renewable energy by 2050, it could save about 240,000 gigawatt-hours of electricity annually.

Using just 10% of this surplus power for $BTC mining could potentially generate 360B Japanese yen ($2.5B) in $BTC.

Green energy producers operate their businesses on the assumption part of the power they generate is wasted. If bitcoin provided a new source of income, that would prompt more green energy.Kenji Tateiwa, Agile Energy president

We've already seen similar incentives in the US and Africa. Namely, Gridless aims to improve local energy infrastructure by using hydro, geothermal, and biomass energy, while Texas introduced demand-response programs to alleviate pressure on the grid.

Beyond Solar - Alternative Green Mining Solutions

Solar power isn't the only green solution to $BTC mining. Companies globally are increasingly experimenting with hydropower and small modular reactors (SMRs).

Hydro mining facilities use the energy of flowing water, which is more reliable than solar. For example, Bitfury Group has partnered with hydroelectric plants in Georgia and Norway, and Greenidge Generation operates a $BTC mining facility on the Genesee River in New York.

Meanwhile, SMRs offer a promising alternative to large-scale nuclear power plants. Their smaller size and modular design make them more adaptable to different applications, including crypto mining.

Oklo and NuScale Power, both based in the US, are currently developing an SMR specifically for industrial applications like data centers and $BTC mining.

Closing Remarks

The increasing adoption of green energy sources, such as solar power and SMRs, for $BTC mining operations demonstrates a global trend towards more sustainable and responsible mining practices.

Beyond reducing mining's carbon footprint, it introducesnew revenue generation models for energy producers. Given these benefits, we can expect to see wider adoption of green mining solutions in the foreseeable future.

References

• TEPCO firm uses surplus green energy to mine bitcoins (Asahi Shimbun)
• Bitfury Group
• Greenidge Generation
• Oklo
• NuScale Power

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