In a Wednesday news statement, the two firms inked a memorandum of understanding with TRIPLE-1, a local hardware company, to construct distributed data centers around the country that capitalize on excess renewable energy using TRIPLE-1’s chips.
The project’s goal is to make good use of extra electricity by creating fresh demand for crypto mining and artificial intelligence processing.
TEPCO established Agile Energy X in September with the goal of creating digital value from the utility’s surplus electricity, including through crypto mining.
The three businesses have already established a demonstration project in Tokyo: a 1.5 megawatt (MW) data center with 1,300 computers that resemble mining rigs in a photo accompanying the news announcement.
TEPCO remains one of Japan’s top utility businesses, with a market capitalization of about JPY 820 billion ($6 billion), less than half of what it was before the Fukushima tragedy.
After an earthquake and tsunami devastated nuclear reactors in Fukushima that were operating without sufficient risk controls in 2011, the company has fought to recover its business and image. The government eventually purchased a 50.1% share in the company in 2012.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
Coincu News
zkSync developers have provided updates regarding the zkSync Era Sepolia testnet, aiming for full restoration…
Two long-dormant Bitcoin wallets, identified as "16vRqA" and "1DUJuH," have suddenly sprung to life after…
999 bitcoins (BTC) valued at approximately $60,853,459 were transferred from the cryptocurrency exchange Huobi to…
Schiff anticipates an explosive rise Bitcoin ETFs in gold and silver prices, emphasizing their potential…
The NFT transaction volume on the Bitcoin chain totaled approximately US$49.6 million, reflecting a 10.58%…
Bitcoin Asia conference in Hong Kong made waves in the cryptocurrency community, drawing in an…
This website uses cookies.