Japanese Electric Firm Will Utilize Surplus Power on Crypto Mining

• TEPCO’s subsidiary has decided to commercialize the excess power by crypto mining.
• The surplus power will be used by creating new demand for crypto mining and artificial intelligence computation.
• The firms have already set up a 1.5 MW data hub with 1,300 computer system.

Japan’s utility firm, ‘Tokyo Electric Power Grid’ (TEPCO) is getting along with local mining rig manufacturer TRIPLE-1 to utilize the surplus power for crypto mining.

As per the press release, TEPCO’s subsidiary, ‘Agile Energy X’  first decided to commercialize the utility’s excess power through crypto mining. Both the firms signed a memorandum of understanding with TRIPLE-1 for building distributed data centers across Japan that would use the surplus renewable energy with TRIPLE-1’s semiconductors.

The surplus power will be utilized by creating new demand for crypto mining and artificial intelligence computation. All the three firms have already set up a demo project in Tokyo; a 1.5 megawatt (MW) data hub with 1,300 computer system.

Apparently, as per recent data revealed by Japan’s Ministry of Energy, the country could be producing twice the amount of renewable energy it is generating today.

This is possibly due to renewable energy curtailment that has been increased in the past few years. This curtailment in turn, saves more energy from getting used. Companies have observed that it is difficult to link more renewable energy sources to the grid due to congestion.

Crypto scenes in Japan are in full swing after the world’s leading crypto exchange Binance is all set to officially enter the Japanese market with the acquisition of Sakura Exchange Bitcoin.