Japanese Power Producer To Use Solar Power in Crypto Mining

Mar 12, 2018 at 22:55

Japan power company Kumamoto-Energy Co. Ltd. said it is now using solar power in its cryptocurrency mining activities.

According to Bitcoin.com, Kumamoto-Energy formed an affiliate company called OZ Mining in November 2017 to run its crypto mining business.

The new company will be mining digital currencies by using surplus electricity supply from its solar power plants.

The Japanese power firm is related to TakeEnergyCorporation Co Ltd. that runs solar power plants in the Kumamoto Prefecture.

OZ Mining is buying electricity from Kumamoto-Energy at ¥10-19 per kilowatt-hour ($0.09-0.19 per kilowatt-hour).

It also puts up data center facilities and container-based mining rigs allowing to be installed anywhere near power systems and customer needs.

Mining cryptocurrencies is a cost-extensive activity and requires a lot of electricity supply.

With the use of renewable energy—such as solar, Kumamoto-Energy sees a more sustainable and greener crypto mining.