CandleFocus Bitcoin Mining Could Help Japan Monetize $2.5 Billion in Wasted Green Energy — Report
2024-09-08
Author: Content Editor
Agile Energy X, a subsidiary of Tokyo Electric Power Grid (TEPCO), is investigating the use of surplus green energy for Bitcoin mining. The company has deployed mining machines near solar farms in Japan and estimates that if the country achieves 50% renewable energy by 2050, there could be 240,000 gigawatt-hours of unused electricity. Utilizing just 10% of that surplus could generate $2.5 billion worth of Bitcoin annually. Agile Energy X sees Bitcoin mining as a profitable solution for excess renewable energy and believes it could provide a new revenue stream for green energy producers, encouraging further investment in sustainable energy technologies. This aligns with a broader trend in the Bitcoin mining industry towards using green energy sources, with 56% of miners now utilizing renewable energy.
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