TEPCO subsidiary sees $2.5B revenue in allocating surplus electricity to Bitcoin mining
CryptoNewsTerminal Staff08 Sep, 2024
TEPCO subsidiary sees $2.5B revenue in allocating surplus electricity to Bitcoin mining
TEPCO, Japan's largest power utility, has identified a potential revenue stream in allocating surplus electricity to Bitcoin mining. Through its subsidiary, Agile Energy X, TEPCO estimates that this allocation could generate $2.5 billion annually. Agile Energy X, established in 2022, is responsible for developing a trading system for surplus electricity. The company's report highlights the opportunity to harness Japan's excess electricity for Bitcoin mining, a process that requires significant energy consumption. TEPCO's exploration of Bitcoin mining as a revenue source aligns with its efforts to find innovative solutions for surplus electricity management. By leveraging Agile Energy X's platform, TEPCO can potentially tap into a new market while contributing to the development of the Bitcoin mining industry.
