Agile Energy X Initiates Bitcoin Mining Using Surplus Renewable Energy

According to Odaily, Agile Energy X, a subsidiary of Tokyo Electric Power Grid, has commenced the installation of Bitcoin mining equipment at solar power plants in Tochigi and Gunma prefectures. This initiative aims to utilize surplus renewable energy for mining experiments. Kenji Tateiwa, a representative of the company, stated that mining could provide a new revenue stream for power generation companies and promote the further adoption of green energy. Agile Energy X estimates that if renewable energy accounts for nearly half of the national power supply, the annual electricity consumption of approximately 70 million households would be wasted. By utilizing 10% of this surplus for Bitcoin mining, it is projected to generate an annual revenue of around 360 billion yen (25 billion USD). This move seeks to address the issue of power wastage due to the volatility of renewable energy generation while supporting Japan's goal of achieving carbon neutrality by 2050.