The world’s fourth-largest power company is investigating Bitcoin mining through a subsidiary

Agile Energy X, a company incorporated in Tokyo, Japan and a subsidiary of Tokyo Electric Power Company (TEPCO), is leveraging Bitcoin mining.

According to recent coverage, the company is looking to expand its capabilities through Bitcoin mining, betting on avoiding the waste of excess renewable energy.

It is important to note that TEPCO is the largest power company in Japan and also the fourth largest in the world.

Speaking on the topic, Kenji Tateiwa, president of Agile Energy X Inc., said:

What we are doing has few parallels in Japan. The success of our framework would lead to the introduction of more green energy.

The executive also shared that he was inspired throughout 2018, when important questions were raised about “power output control.” The Bitcoin mining initiative would help power producers control their output through multiple means, including temporarily halting power generation and using excess supply. This is particularly relevant for photovoltaic energy because its generation reaches its maximum during the day.

That said, the company has yet to start mining Bitcoin. Tateiwa has proposed this new internal project and the idea will be thoroughly tested through multiple demonstrations.

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