Kazuno City In Japan Attracts Cryptocurrency Miners with Renewable Energy

11/07/2017 - 09:58 UTC
Kazuno Japan Renewable Energy Mining

The city of Kazuno (Akita prefecture) and its 32000 people with a rich historical background, is making a massive leap into the 21st century by attracting en mass cryptocurrency miners to settle within their city. Kazuno is known for its renewable energy and low temperature in the winter time making it an attractive place for crypto mining operations.

Kazuno City also has a humid continental climate with heavy snowfall in winter.

The average yearly temperature of Kazuno City is low, probably contributing to improving the heat exhausting/cooling effects to deal with the heat generated by computers for mining,

Japan Today reported on Monday, adding that:

The government of Kazuno City 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%.

Also read: Japan's GMO Internet Group Launches ICO for Next-Generation 7nm Mining Boards

One company has already announced that it will open "the first clean energy-based Japanese mining center" in the city to mine ten cryptocurrencies including bitcoin.
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.

Miner Garage representative stated :
"With the city’s help, and utilizing the city’s natural resources of clean energy, Miner Garage will open and operate the first clean energy based Japanese mining center in December 2017,” its president Takuya Omata stated. With such natural resources, the company believes that “mining in Japan is very possible and can compete with numerous foreign mining companies."

For the mid-December launch of Miner Garage’s mining center, the news outlet detailed:

        At the mining center, 600 computers will be introduced at first, and they are expected to realize a mining business worth about 300 million yen per year by dealing with about ten kinds of virtual currencies such as bitcoin.

Miner Garage will create jobs regionally and train blockchain engineers. The company is also currently negotiating with Tohoku Electric Power Co Inc concerning renewable energy obtainment.

The cost of electricity has been an obstacle to mining operations in Japan. In an attempt to combat the problem, two different energy providers are already offering low-cost power aimed at reducing mining costs.

Meanwhile, three large Japanese conglomerates, GMO, DMM and SBI Group, have already announced their intentions to start mining operations.



Disclaimer: This article should not be taken as, and is not intended to provide, investment advice on Bitcoin, Cryptocurrencies or finance in general.