The Tokyo Electric Power Company (TEPCO), which specializes in nuclear power generation, announced on Wednesday its alliance with a local computer chip maker to mine Bitcoin with the excess electricity they generate.
Agile Energy X, a wholly-owned subsidiary of TEPCO, is a company that will work closely with computer chip makers TRIPLE-1 to improve to activate several Bitcoin mining farms in different parts of Japan.
A pilot trial is already underway at a farm they started in Tokyo. Own ad, TEPCO mentions that the purpose of this first project test is to “validate the behavior of the system and the impact on the power grid when operating high-energy plants of 1,500 kW.” The company claims that So far, the results of the pilot have been positive.
TEPCO was the main player in 2011. the protagonist of the tragedy when its nuclear power plant in Fukushima had an accident which released radioactive materials into the atmosphere and into the Pacific Ocean. The catastrophe was caused by two natural disasters – the strongest earthquake ever recorded in Japanese history and a tsunami that killed thousands of people.
The Japanese government reported in November this year that TEPCO was late payment after receiving his debts 70,000 million USD funding fulfill obligations related to the cleanup of the factory and the damaged natural ecosystem and compensation to the affected people.
Other companies around the world are also using their excess resources to generate energy or use it to mine Bitcoin. One of them is ExxonMobil, which uses excess natural gas from its oil wells create electricity that powers mining farms Bitcoin in North Dakota, United States. CryptoNoticias reported that the oil company hopes to implement this project to the other four countriesamong which is Argentina.