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Japanese power giant Tepco explores ‘green’ Bitcoin mining

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TEPCO, Japan’s largest electric utility, is reportedly venturing into green Bitcoin mining as part of its broader strategy to align with sustainable energy practices. The move highlights the company’s efforts to integrate environmentally friendly technologies into its operations amid growing concerns over the environmental impact of cryptocurrency mining.

According to recent reports, TEPCO is exploring ways to utilize its surplus renewable energy resources for Bitcoin mining activities. The company is considering the development of mining facilities powered by green energy sources, including hydroelectric, solar, and wind power, as part of its commitment to reducing carbon emissions and promoting sustainability.

TEPCO’s initiative comes at a time when the cryptocurrency industry faces increasing scrutiny over its energy consumption and environmental impact. Bitcoin mining, in particular, has been criticized for its high energy demands and reliance on fossil fuels. In response, several companies in the sector are seeking ways to mitigate their environmental footprint by transitioning to renewable energy sources.

A TEPCO spokesperson confirmed the company’s interest in green Bitcoin mining, stating, “We are exploring innovative ways to leverage our renewable energy resources to support sustainable practices in emerging industries. By integrating green energy into Bitcoin mining, we aim to contribute to a more sustainable future while utilizing our energy infrastructure effectively.”

The exploration into green Bitcoin mining aligns with TEPCO’s broader goals of transitioning to renewable energy and reducing its overall carbon footprint. The company has been investing in various sustainable energy projects and technologies as part of its commitment to environmental stewardship and energy innovation.

Industry experts view TEPCO’s move as a significant step toward addressing the environmental concerns associated with cryptocurrency mining. By utilizing renewable energy for mining operations, the company could set a precedent for other energy providers and cryptocurrency miners seeking to adopt more sustainable practices.

As TEPCO advances its green Bitcoin mining strategy, it will likely collaborate with technology providers and industry stakeholders to develop efficient and eco-friendly mining solutions. The success of such initiatives could play a crucial role in shaping the future of sustainable cryptocurrency mining and contributing to broader environmental goals.

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7-Eleven South Korea to accept CBDC payments in national pilot program

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7-Eleven is set to participate in the testing phase of a central bank digital currency (CBDC) initiative, running from April to June. The retail giant’s involvement highlights the growing push for digital currency integration in everyday transactions.

The pilot program will assess the feasibility of CBDC payments at 7-Eleven stores, allowing customers to make purchases using the digital currency. The initiative is part of a broader effort to explore the real-world application of CBDCs in retail environments, potentially shaping future payment systems.

As central banks worldwide accelerate their digital currency research, private sector collaboration is seen as crucial for widespread adoption. If successful, 7-Eleven’s participation could pave the way for broader CBDC usage across retail and commercial sectors.

The outcome of the testing phase will provide valuable insights into consumer adoption, transaction efficiency, and potential regulatory considerations, influencing how CBDCs are integrated into mainstream financial systems.

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SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

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The U.S. Securities and Exchange Commission (SEC) and crypto exchange Gemini have agreed to pause legal proceedings as both sides explore a potential resolution to their ongoing lawsuit. The move signals a possible settlement in the high-profile case, which centers around Gemini’s now-defunct Earn program.

The SEC initially sued Gemini, alleging that the Earn program—designed to offer users yield on crypto deposits—operated as an unregistered securities offering. Gemini has pushed back against the claims, arguing that its operations complied with regulatory standards.

By pausing litigation, both parties may be looking for a compromise that could set a precedent for crypto lending products in the U.S. A settlement could also provide regulatory clarity for similar platforms navigating SEC scrutiny.

While the outcome remains uncertain, the crypto industry is closely watching the case, as its resolution could impact future enforcement actions and the broader regulatory approach toward digital asset lending services.

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GameStop finishes $1.5B raise to add Bitcoin to its balance sheet

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GameStop has successfully completed a debt offering, raising capital that may be used to acquire Bitcoin, signaling the company’s deeper foray into digital assets. The move aligns with its broader strategy to diversify beyond traditional retail operations and into emerging financial technologies.

While GameStop has not confirmed the exact allocation of the funds, market speculation suggests that a portion could be used to buy Bitcoin, following in the footsteps of companies like MicroStrategy. The potential investment would reinforce GameStop’s ongoing pivot toward blockchain and digital assets, an effort that began with its NFT marketplace and crypto-related initiatives.

Analysts see this development as part of a growing trend of corporations exploring Bitcoin as a reserve asset amid concerns over inflation and monetary policy. If GameStop proceeds with the acquisition, it could further validate Bitcoin’s role as a strategic investment for publicly traded companies.

The company’s board will ultimately decide how the newly raised capital is deployed. Investors and the broader crypto market are watching closely for any official announcements regarding GameStop’s Bitcoin strategy.

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