menuIcon
$ 83,399.9
BTC
$ 83,399.9
-0.89 %
$ 1,839.60
ETH
$ 1,839.60
-3.15 %
$ 0.6829
ADA
$ 0.6829
-2.67 %
$ 612.60
BNB
$ 612.60
-0.06 %
$ 126.43
SOL
$ 126.43
-1.83 %
Gungun Bhatia
Dec 14, 2022
by Gungun Bhatia

TEPCO to Partner With TRIPLE-1 on Excess Power With Crypto Mining

TRIPLE-1 TEPCO

Table of contents

  1. Collaboration of TRIPLE-1 and TEPCO
  2. The Objective of the Collaboration
TRIPLE-1, a regional producer of mining rigs, is collaborating with Tokyo Electric Power Grid (TEPCO), a significant utility business in Japan, to use the extra electricity on its grid.

Collaboration of TRIPLE-1 and TEPCO

After a tsunami and subsequent earthquake struck nuclear reactors at Fukushima in 2011, the utility has fought to reestablish its business and image. At the time, it lacked adequate risk controls and was running the reactors. The government subsequently acquired a 50.1% share in the business in 2012.

In September, TEPCO established a company named Agile Energy X, intending to generate digital value from the utility's surplus electricity, including through bitcoin mining. In a news statement on Wednesday, the two firms announced the signing of a memorandum of understanding (MoU) with TRIPLE-1, a regional hardware manufacturer, to build distributed information centers around the nation that use TRIPLE-1's semiconductors to make use of abundant renewable energy.

The Objective of the Collaboration

According to the press release, the initiative aims to make good use of spare electricity by generating new demand for cryptocurrency mining and AI processing.

In Tokyo, the three businesses have already established a demonstration project that consists of a 1.5 MW data center with 1,300 computers that, according to a press statement photo, resemble mining rigs. Japan's Ministry of Energy stated in a report released this year that the country could be generating twice as much renewable energy as it does now. According to the corporations, this is because there has been an increase in renewable energy curtailment in recent years, which results in more energy being wasted, and it has been challenging to add more renewable sources of energy to the grid because of traffic.

Follow us on: News
Crypto Mining Bitcoin Mining Memorandum of Understanding (MoU) TRIPLE-1 Tokyo Electric Power Grid (TEPCO)
TEPCO to Partner With TRIPLE-1 on Excess Power With Crypto Mining
Gungun Bhatia
Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

Top Picks