Japan to use Bitcoin mining to stabilise power grid
Japan’s largest electric power company has begun utilising bitcoin mining.
Tokyo Electric Power Company (TEPCO) Power Grid is partnering with TRIPLE-1, a local semiconductor designer and developer, to mine bitcoin with excess energy across the country, CoinDesk first reported.
TEPCO Power Grid, is seeking ways to monetize surplus power with bitcoin mining through its wholly-owned subsidiary Agile Energy X.
With the principle of “local production for local consumption”, Agile Energy X will offer containerised computing solutions to drive a decentralised data centre development, which is considered crucial for Japan as a country with a high frequency of natural disasters.
According to the announcement, a pilot project has already been established on the grounds of TEPCO Power Grid’s office in the Tokyo metropolitan region.
