‘We are seeing rising demand’
Japan recently took a major step into the global bitcoin mining race, becoming the 11th country to launch a government-backed mining initiative, according to CoinPedia. The move marks a shift for a nation previously known for its cautious approach to cryptocurrency and positions Japan alongside early adopters such as El Salvador, Bhutan, and the United Arab Emirates.
According to the news outlet, Japan’s Ministry of Economy, Trade, and Industry will lead the effort to launch a 4.5-megawatt bitcoin mining project in partnership with Canaan Inc. and a state-owned utility provider. Scheduled to launch in late 2025, the facility will run hydro-cooled Avalon A1566HA mining rigs and will be powered using excess renewable energy from…
