Tokyo Electric Power Company's subsidiary uses surplus electricity from renewable energy to conduct mining experiments, with annual revenue reaching $2.5 billion

Agile Energy X, a subsidiary of Tokyo Electric Power Grid, announced that it has begun installing Bitcoin mining equipment next to solar power plants in Tochigi and Gunma prefectures to conduct mining experiments using surplus electricity from renewable energy. The company's representative Kenji Tateiwa said that mining can provide a new source of income for power generation companies and promote the further promotion of green energy. According to Agile Energy X's estimates, if renewable energy accounts for nearly half of the country's electricity supply, the annual electricity consumption of about 70 million households will be wasted. If 10% of it can be used for Bitcoin mining, it is expected to generate annual revenue of about 360 billion yen (US$2.5 billion). The move is aimed at solving the problem of electricity waste caused by the volatility of renewable energy generation, while supporting the Japanese government's goal of achieving carbon neutrality by 2050. (Coinpost)