"KEPCO Should Mine Bitcoin with Surplus Electricity"

A study has found that Korea Electric Power Corporation (KEPCO) could alleviate its debt issues by mining Bitcoin with surplus electricity. It is argued that recycling surplus electricity exceeding net consumption can enhance the efficiency of power resources and create new revenue streams.

On the 1st, a research team including Professor Choi Yoon-seul from the Department of Applied Statistics and Professor Jung Jae-hong from the Department of Mathematics at Hanyang University stated in a report that "the surplus solar power exceeding net consumption is virtually disappearing," and "using this power for Bitcoin mining can reduce energy loss and generate economic profit."

Examples from major foreign countries were also presented. The United States, Bulgaria, Bhutan, and El Salvador are already mining or purchasing Bitcoin under government initiatives and utilizing it as a national strategic asset. Bhutan started mining in 2017 and is expected to hold 12,568 BTC by the end of 2024, while El Salvador is known to hold 5,930 BTC.

The research team evaluated that "the recycling of surplus power through Bitcoin can strengthen KEPCO's financial soundness, improve energy efficiency, and contribute to solving the issue of unpaid bills," and "it will serve as basic data for exploring the intersection of the domestic Bitcoin mining industry and energy policy in the future."

As of 10:10 PM, Bitcoin is trading at $107,443 on the Binance USDT market, down 1.12% from 24 hours ago.