Agile Energy X, a subsidiary of Tokyo Electric Power Co. (TEPCO), is experimenting with Bitcoin mining to prevent waste of renewable energy and promote its use. This reports Japan's oldest newspaper, Asahi Shimbun.

This initiative aims to harness excess renewable energy capacity that would otherwise go unused. With Bitcoin mining, the company aims to contribute to a sustainable energy supply in the country.

In public debate, Bitcoin has a reputation for being an environmental hazard because of its high energy consumption. However, reports by KPMG and others point to Bitcoin's potential for the energy transition.

Because mining systems can be turned on and off very flexibly, they can serve as spontaneous consumers of excess production. This would not only allow better management of the utilization of energy networks, but, thanks to Bitcoin-funded cross-financing, renewable energy sources could also become profitable faster, according to the theory behind it.

Moreover, in the past two years, the network's computing power has risen to new heights, while emissions continue to decline. KPMG estimates that renewable energy sources now account for more than 50 percent of energy sources for Bitcoin mining.

If Japan reaches its 50% renewable energy goal by 2050, a significant amount of energy would be wasted, simulations by Agile Energy X claim.

The president of Agile Energy, Kenji Tateiwa, stated that the profitability of mining is currently still limited. However, he believes that with the expansion of renewable energy infrastructure in Japan, Bitcoin mining could become a viable solution to avoid energy waste.

Agile was established in 2022 as a wholly owned subsidiary of TEPCO. TEPCO is Japan's largest energy company, known for its extensive power generation activities, including nuclear power.

TEPCO gained global fame after the Fukushima nuclear disaster in 2011. The company operated the earthquake- and tsunami-hit nuclear plant, leading to the largest nuclear accident since Chernobyl.