Japanese Electricity Company Uses Excess Solar Power for Crypto Mining

Kumamoto-Energy is a local power producer and supplier from Kumamoto, Japan. Recently, it was revealed that it used surplus solar power for ”crypto mining” also known as mining cryptocurrencies.

Contrary to the media’s sources and environmental advocates, crypto mining can enable a greener and ecological future using a renewable energy. Did you know the crypto economy is making remote renewable and sustainable energy more affordable and profitable?

OZ Mining

On February 20, 2018, the Kumamoto-Energy Co Ltd stated that it started an affiliation with an organization called OZ Mining. This affiliate company steadily purchases electricity from Kumamoto-Energy and sets up crypto mining farms also known as ‘mining homesteads’.

Along the data center facilities, there are also container-based mining rigs, that can be installed anywhere power is available or the control is accessible, depending on customer needs.

OZ Mining purchases the renewable energy from Kumamoto-Energy at the cost of ?10-19/kWh. Approximately $0.095 US dollars for every kilowatt-hour. Although most of these contracts are affected by the supply area and season.

Kumamoto Solar Power Mining

Another purpose of the Kumamoto-Energy company is the production and marketing of elaborate efficient systems for crypto mining. The purpose is to involved several miners to request cooperation.

The difficulty of the mining process it’s the amount of electrical power required and the savvy computer systems, but the industry has been gaining major power plants to continue the steady development. Economist predicted this mining industry could reach the exponential growth around the same time, the earth will reach the verge of exhausting their power resources.

Did you know crypto mining can consume more energy than some nations? In fact, analysts from Electric Power companies stated that mining the cryptocurrencies with renewable resources is the only way it will be profitable, but if this is left unchecked then the consequences could lead to an environmental disaster.

Cryptocurrency Mining Is A Profitable Industry

Manufactures of graphics cards have expressed that the high rise purchase of Graphics Processing Units (GPUs) all over the world has been to mine alternative currency.

In 2017, a $776m worth of GPUs were purchased for mining cryptocurrencies. While this is positive news for AMD and Nvidia manufactures, other industries like gaming have been affected by the uprising prices of these demanded graphics cards.

Unfortunately for the individual miner, the increasing utility costs and demanded supplies for the mining purposes have caused them to drop their own individual process. Therefore, the Cryptocurrency markets have been recovering fully and continue developing sustainable and profitable energy for companies like OZ Mining and Kumamoto-Energy.

Mining for a Greener Sustainable Future

The collective imagination thinks cryptocurrencies had a costly generation process compared to the traditional sources of energy. This thought process was encouraged when people tried to mine them. But the crypto mining of Kumamoto-Energy has been beneficial because it is helping the exponential growth of cryptocurrencies with remote green sustainable power.

This mining opened all the new array of possibilities on how cryptocurrency can be mined in a less expensive, clean, green and renewable way. Talks of introducing to the current power market the utilization of solar, hydro, wind and geothermal energy are being presented as the most affordable and profitable for our future.