Japan Based Agile Energy X Considers ‘Green’ Bitcoin Mining

Japan-based Agile Energy X is reportedly considering ‘green’ Bitcoin mining to save wasted renewable energy.

Founded in 2022, Agile Energy X is a subsidiary of Tokyo Electric Power Co(TEPCO) and is exploring generating waste solar energy to power Bitcoin mining operations.

Kenji Tateiwa, President of Agile Energy X believes “Success of our framework would prompt more green energy to be introduced.” 

Agile Energy X has installed mining machines near solar farms in Gunma and Tochigi prefectures near Tokyo to absorb and utilize the waste energy. A survey by Asahi Shimbun reported a total of 1,920 gigawatt-hours of power were subject to output control across Japan last year, in 2023, or about the annual power consumption of 450,000 households.

Agile Energy’s simulations demonstrate that if renewable energy accounted for 50% of Japan’s power supply, 240,000 gigawatt-hours could be wasted annually through curtailment. 

As a result, Agile Energy estimated that by using 10% of this surplus power for Bitcoin mining can create approximately $2.5 billion (360 billion yen) in BTC every year. Tateiwa believes in the potential of BTC mining generating green energy if profits from BTC mining become a part of corporate earnings.

“While the EU has been busy gaslighting Bitcoin, Japan has been busy researching it,” Daniel Batten, Managing Partner at CH4 Capital, posted a reply on this report shared by Marathon Digital Holdings.

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Most of the peer review papers focus on how Texas has used Bitcoin mining to accelerate renewable energy development

However, I’ve uncovered evidence of at least 8 nation states using Bitcoin mining to accelerate their own renewable energy projects

Here’s a deep dive
👇 pic.twitter.com/UBJkGrNUkl

— Daniel Batten (@DSBatten) September 9, 2024

Batten also added how at least 8 countries are using Bitcoin mining to accelerate their own renewable energy projects including- UAE, Iceland, Japan, New Zealand, Russia, Canada, China and Kenya.

“Binance showed one renewable Norwegian firm wasted 340 GWh and $46Million in a year by not mining Bitcoin, money that could have gone into more renewable energy projects”, Batten further posted.

Also Read: The evolution of crypto mining: Can eco-mining solve environmental concerns?