Tuesday, November 7, 2017

Japan: Geothermal Energy Touted as Power Source for Cryptocurrency Mining

Japanese City Attracts Cryptocurrency Miners with Abundant Renewable Energy (news.bitcoin.com)

The government of a Japanese city known for its renewable energy and low temperature in the wintertime is attracting cryptocurrency miners to use its clean electricity. One company has already announced that it will open “the first clean energy-based Japanese mining center” in the city to mine 10 cryptocurrencies including bitcoin.

The government of Kazuno City, in Akita Prefecture, has been inviting companies that run businesses by using renewable, energy-derived, clean electricity. The city has an abundance of renewable energy including geothermal, hydroelectric and wind powers, and its self-sufficiency rate of electricity exceeds 300%.

The Tokyo-based Miner Garage Co., Ltd., which runs a business of mining digital currencies such as bitcoin, recently announced that it has been certified and invited to operate in Kazuno City.