Japan uses solar energy for mining

March 1, 2018

Japan uses solar energy for mining

Japan uses solar energy for mining

Japanese electric power company uses excess solar energy to the criptomayning.

Japanese producer and supplier of electricity Kumamoto-Energy, said that since recent time began to use solar power for cryptocurrency mining. This is another example of how, contrary to environmental hysteria on the part of the media, cryptocurrency mining can be carried out using renewable energy.

Kumamoto-Energy co Ltd announced on February 20, 2018 that it had established a subsidiary company that operates a cryptocurrency mining business called OZ Mining, back in November 2017. The company says that it seeks to effectively use its excess electricity, mining cryptocurrency with the help of solar power.

The company explains that OZ Mining consistently buys electricity from Kumamoto-Energy at a price of 10-19 kWh/kWh (depending on supply, contract and season).

The news from Japan shows that in some cases the cryptocurrency can be mined using renewable energy sources such as solar, wind, hydro and geothermal energy. For example, in Iceland, due to geographical features, energy for mining is mainly supplied by hydroelectric power plants.