Japanese Energy Company Entering the Mining Business

Kumamoto Energy arriving the mining trade made titles this week. The Japanese company strategies to set up a secondary company, wholesale their excess electricity at a reduced price, and use it for mining cryptocurrencies.

Kumamoto Energy is a professed unconventional energy company that uses solar power to offer electricity. Though, given the nature of energy generation, it has restrictions when it comes to regulating the amount of power produced, which frequently results in producing surplus power. As a way of operating excess electric power, getting into mining is reasonable.

This knowledge has previously been realized before. An old hydropower skill in a remote area of Austria is also into mining. In this circumstance, the facility was in a postponed state because power transmission lines were old and an important amount of renewal cost was mandatory to sell electricity again. Yet, if a mining facility is put up next to the power plant, transmission lines will be needless.

Consumption of natural power in remote places for mining will probably increase in the upcoming.

In this situation, it is a high-impact story as Kumamoto Energy will start it themselves. If this makes development, more greatly public companies and the government will start mining. And then, if each country around the world gets into it, the safety of cryptocurrency would considerably progress.

In construction with the bitcoin scalability problem, Hong Kong’s virtual currency exchange Bitfinex has fully implemented Segwit technical protocol for putting and withdrawing money. It is the first time that a foremost investment platform has executed this.

Coinbase, the biggest cryptocurrency exchange in the US, is scheduling to start accepting transactions that accept Segwit next week. Segwit’s remittance ratio will progress significantly by adopting this support.

Presently, the transaction fee for bitcoin is set at its minimum level, and it can be managed easily with a commission of about 5-6 yen(5-6U.S. cents).