Japan will use solar energy for cryptocurrency mining

On February 20, the Japanese company Kumamoto-Energy Co Ltd, a Kumamoto-based electricity producer and supplier, announced plans to use solar energy to mine cryptocurrency. For these purposes, a subsidiary company OZ Mining was created, registered in November 2017.

Company representatives note that OZ Mining’s activities are aimed at using excess energy produced as a resource for mining digital currencies. It is worth noting that Kumamoto-Energy Co Ltd has a direct connection with the largest company operating solar power plants in the prefecture - Take Energy Corporation Co Ltd.

The Kumamoto-Energy Co Ltd solution will provide a number of new opportunities for the company, and will also allow the use of natural resources without harm to the environment. OZ Mining purchases electricity at a price of ¥ 10-19 per kW, depending on supply, time of year, and sets up farms for mining digital currency in those regions where there is available energy, which depends on the needs of customers.

According to experts, when the crypto industry reaches its apogee, most of the Earth's natural resources will be on the verge of depletion. If mining is not stopped, it could cause an environmental disaster, since most electricity suppliers will work only for mining.

The Kumamoto-Energy Co Ltd statement gives hope that the forecasts can be changed. Yes, renewable energy sources are expensive and costly, and also not well studied at the moment. Despite this, humanity should strive to generate energy through sunlight, wind and water and other renewable sources. Therefore, we can safely say that the Japanese company is moving in the right direction.

According to https://novator.io