State-Backed Bitcoin Mining Begins in Japan
A state-backed Bitcoin mining project in Japan links Canaan's rigs to renewable power in a bold experiment.
Japan has begun mining Bitcoin through a project that connects its power grid to Canaan's specialized mining machines.
- A major Japanese utility will use them to balance electricity demand by adjusting its activities to match the available renewable energy supply.
- Because the utility is partly government-owned, it is one of the few nations where the state participates in Bitcoin mining.
Bitcoin mining hardware maker Canaan will deploy a 4.5-megawatt project using its Avalon hydro-cooled machines to help a Japanese regional utility manage power-grid fluctuations.
The deal uses Avalon rigs to balance Japan’s power grid by shutting off during peak demand and restarting when excess renewable energy is available.
This helps the utility manage fluctuations and use surplus green power more efficiently.
Canaan secures a 4.5-megawatt project.
Author's summary: Japan starts state-backed Bitcoin mining project using Canaan's rigs.
More News
- Column: LME copper hits record highs as funds and fundamentals align
- City of Nuremberg censors Mehring Verlag event on Gaza genocide at Left-wing Literature Fair
- Inside family home with 'incredible cinema room, luxury bar and pool room'
- COLUMN: WVU's big win against No. 22 Houston also a reminder of how average the Big 12 is in football - Dominion Post
- Sabrina Carpenter's Saturday Night Live Performance