On 12 August 2025, Jurģis Miezainis, Parliamentary Secretary of the Ministry of Economics, met with the authors of the Energy Nexus initiative, whose solutions merge electricity, heating and blockchain technologies into an innovative product.
During the meeting, the Energy Nexus team presented a solution that could bring significant benefits to households and promote the efficient use of energy grid and installed solar panel systems, enabling energy generation, consumption and storage. This approach is an excellent example of an innovative business model based on cross-sector integration – combining electricity generation, blockchain technologies, energy storage and the efficient use of thermal energy.
“Energy Nexus is a great example of how Latvia can combine renewable energy, cutting-edge digital technologies and international cooperation to create benefits for our citizens, strengthen energy resilience and open up new business opportunities,” said Parliamentary Secretary Jurģis Miezainis.
In this way, the project simultaneously helps achieve both energy efficiency and renewable energy generation targets, while directly reducing costs for consumers. The model would even enable an additional stream of income through cryptocurrency mining using excess energy. Moreover, the Energy Nexus concept will also attract foreign investment and has the potential to expand into other markets.
The idea originated from the Commercialisation Reactor initiative, which brought together organisations from Latvia, Estonia, and the United States:
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Commercialization Reactor (LV) – Europe’s leading deep-tech venture creation and investment platform that connects the science and business communities.
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Rax Mining (USA) – a leader in bitcoin mining and high-performance computing, specialising in energy-efficient, renewable-powered infrastructure.
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Sunwise (LV) – renewable energy developer installing solar power stations on commercial rooftops and land plots, with multiple large-scale installations in Latvia and abroad.
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Solaristate (EE) – turns roofing challenges into renewable opportunities, delivering solar roofs for long-term savings, sustainability and home value.
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Latvian Blockchain Association (LV) – promotes blockchain adoption and facilitates collaboration between market participants and stakeholders.
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First National Energy Community (LV) – works to ensure that apartment buildings, residents and municipalities can use energy resources rationally and to their benefit, while strengthening the resilience of the energy supply system.
During the meeting, the most optimal project implementation models were discussed to ensure the greatest benefits for both investors and members of the energy communities.