Kumamoto Electric Company and OZ Mining Corporation will begin mining in southern Japan

Kumamoto Electric Power Company and OZ Mining Corporation announced that they will begin operating a crypto mining farm starting in August, with the goal of installing 14,000 mining machines and reaching 90 million yen of profits by March 2020.

The city of Kumamoto in the prefecture of Kumamoto and is located on the island of Kyushu in southern Japan. Kumamoto Electric Power Company is also engaged in the spread of criptomerías throughout Japan, according to a statement, making use of the cheapest electricity price in the country, limited to KEPCO (Kansai Electric Power Company) and TEPCO (Tokyo Electric Power Company). "Since the liberalization of the electric power market took place in early 2016, more and more electric power companies are offering lower electricity rates.

In the South Kyushu region, I think Kumamoto Electric Company offers one of the cheapest rates, "said a vendor from Kumamoto Electric Company.

A start-up company related to cryptocurrencies led by a group of Japanese men who previously worked in the banking industry installed a crypto-mining factory with 500 miners in the Fukui field, a Japanese coastal city located on the Chinese side of the sea. north. Alt Design, founded in September 2017 in Tokyo, offers several types of services, such as crypto and ICO, but its founder and CEO, Yuta Funayama, decided around November 2017 to start crypto mining in Japan. "We wanted to offer our customers and investors who are mainly Japanese the chance to see the miners with their own eyes."

Yuya Yamamoto, spokesperson for Alt Design, said in an interview: "The Japanese invest in miners abroad, but expressed some concerns by saying that it is more difficult to verify what is happening on the mining farms, especially if they are located outside of Japan. .

What we also offer is the service of "Japanese quality" in which we believe that the management of our miners is solid ". Alt Design has been extracting litecoin and ethereum since mid-March 2018. "All our employees have IT experience.

The miners operate 24 hours a day, 7 days a week and our staff rotates every day to verify that everything is going well, "said Yamamoto," we believe that our experience is to address any incident quickly. And the facility can withstand natural disasters, he added. The team generates approximately 200 ETH and LTC in total in a month, "he said.

In addition, while looking for a place to install the plant, Alt Design found an area of Japan where the local government offers subsidies to IT companies, such as paying half of the rent if they set up their business in local factories that are not used. The municipality of Fukui offers low business establishment fees in support of new businesses, including IT companies. "We offer companies that want to settle in our city to pay half of their rent for three years," said Hiroyasu Yoshida, who represents the municipality of Fukui. Electricity is not cheap everywhere in Japan, but tariffs are lower in the Hokuriku region, including Fukui, which is located north of Japan's main island, facing China.