Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
OR
Please fill out the required fields Please fill out the required fields Please fill out the required fields
Get Into Cryptocurrency Trading Today
A new region in Japan is considering cryptocurrency mining.
Kumamoto Electric Power Company and Oz Mining Corporation have decided to create a virtual currency mining farm in southern Japan.
This farm is expected to open in August and contain 14,000 mining machines, to reach a profit of 90 million yen in 2020.
It is in the south of Japan, in the city of Kumamoto, on the island of Kyushu, that will be located the mining farm.
But the company Kumamoto Electric Power Company does not stop there. It plans to expand mining activity throughout Japan.
To do this, the company plans to use the cheapest electricity in the country via Kansai Electric Power Company (KEPCO) and Tokyo Electric Power Company (TEPCO).
Indeed, since 2016, Japan has privatized the electricity market and more and more electricity companies are offering very competitive rates.
Until now, the Japanese mining activity was limited to an encryption plant with 500 miners in the Fukui countryside.
Fukui is a Japanese city located in the north of China.
But the mining company Alt. Design, founded in 2017 in Tokyo and operating the Fukui mine, has decided to expand and invest in other parts of the country.
Its founder, Yuta Funayama, explained: "We wanted to offer our customers and investors, mainly Japanese, the opportunity to see the miners with their own eyes."
Initially, the reason the mining company moved to Fukui was primarily economic:
Firstly because the municipality of Fukui offers lighter taxes for new businesses, especially those working in IT.
In addition, local authorities offer subsidies to these same companies.
For example, they propose to pay only half of the rent if they install their premises in unused factories.
Hiroyasu Yoshida, representative of the Fukui Municipality, explains:
"We offer businesses that want to settle in our city to pay up to half of their rent for three years".
Second, because the Hokuriku area, located north of the main island of Japan, facing China, is also known for its cheap electricity.
But regarding the new Kumamoto installation project, Alt.Design spokesperson Yuya Yamamoto said:
"The Japanese are investing in overseas mines, but they have expressed concern that it is more difficult to verify what is going on in mining, especially if they are located outside of Japan. What we also offer is the "Japanese quality" service in which we believe that the management of our miners is solid. "..." Our employees all have IT training. Miners work 24 hours a day, 7 days a week, and our staff rotates daily to check that everything is going well, "Yamamoto said. We believe that our expertise is to process any incident quickly. "
It should be noted that the mining company is able to generate about 200 ETH and LTC in a month.
Japan was one of the first countries to favorably regulate cryptocurrencies.
This country, always at the forefront of modernity and new developments in the field of high tech, turns resolutely and without fears towards the new technologies represented by virtual currencies.
With these new mining plants, Japan is still taking a step towards cryptocurrencies.
Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
ALL
TRENDING
WATCHLIST
Total Market Cap The Total Market Capitalization (Market Cap) is an indicator that measures the size of all the cryptocurrencies.It’s the total market value of all the cryptocurrencies' circulating supply: so it’s the total value of all the coins that have been mined.
{[{ marketcap }]} {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H) {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H)
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting all the data from several exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current price and the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting allthe data fromseveral exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current priceand the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
Avalanche (AVAX) Gains Traction: A Promising Alternative to Ethereum and Solana?
10 minutes ago | The Currency Analytics
Vitalik Buterin reveals major challenge for Ethereum´s future – and how to solve it
15 minutes ago | CryptoSlate
Vitalik Buterin´s mind-blowing Ethereum blocks shrinking idea
16 minutes ago | Cryptopolitan
Nearly 1 Million Blockchain Addresses Now Hold Over 1 Bitcoin
19 minutes ago | CryptoPotato
JustBit Casino Review
JustBit Casino, which specializes in virtual currencies, is easy to use because withdrawals are expl...
Huobi Token General Overview
Is Ripple The Cryptocurrency of 2021? - In Depth Review of Ripple XRP
Ethereum Classic Review
Monero General Overview
XBO
XBO.com cryptocurrency exchange redefines how you interact with crypto. Designed to make the benefit...
Bithumb
Understanding Bithumb This article highlights what is Bithumb and where it is located. It also di...
Bitstamp
Bitstamp's continued success in the crypto market This article highlights what Bitstamp is. I...
Bitfinex
Bitfinex general overview delves deep into its operations since its inception in 2012 up to date. It...
FTXUS
Introduction to the FTXUS Trading Platform FTXUS is a type of cryptocurrency derivatives exchange...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
Cryptopay.me
Updated, Apr 04, 2020 Cryptopay is a revolution for Bitcoin users. This platform offers its custo...
Mycelium
MyCelium is an application for Mobile that offers many possibilities of security and confidentiality...
Towards the creation of new cryptocurrency mines in Japan
A new region in Japan is considering cryptocurrency mining.Kumamoto Electric Power Company and...
Institutionalization of Cryptocurrencies
The cryptocurrencies rise in recent times never seems to stop. Long gone are the days when...
Ether: Risk of Dramatic Buy and Sells Positions
According to Cointelegraph, the number of Ether long positions has reportedly increased...
Zcash Review (ZEC)
What is Zcash?Zcash was launched in 2016 by several university groups. Among others, a team from...
Which is not an altcoin?
Over the years, bitcoin has established itself as the leader of all cryptocurrencies. It is the...
Are we going towards a definitive ban on cryptocurrency trading in India?
Following the decision of the Reserve Bank of India (RBI) to ban cryptographic banking services,...
Is Algorand a good investment?
Algorand is one of the newly listed altcoins that shows a lot of potential in the crypto market....
What are the top 10 Altcoins?
Contrary to popular belief, bitcoin is not the only cryptocurrency. New cryptos have been...
VeChain and Mastercard Back Australia-China Supply Chain
VeChain and Mastercard show support for the Asia Pacific Provenance project. The council has...
Beechat: Instant Messaging For Cryptocurrency
For those who think that cryptocurrency has reached its peak, it might be time to think again....
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
Cryptopay.me
Updated, Apr 04, 2020 Cryptopay is a revolution for Bitcoin users. This platform offers its custo...
Mycelium
MyCelium is an application for Mobile that offers many possibilities of security and confidentiality...
COMMENTS (0)