How Exxon Mobil Mines Bitcoin With This Pilot Program, Plans To Expand It?
Exxon Mobil, the largest oil producer in the world, is mining Bitcoin. Per a Bloomberg report, the company is running a pilot program to leverage BTC mining using an excess of natural gas from their oil wells and to prevent a process known as flaring. Related Reading | Breaking: Russia To Accept Bitcoin As Payment For […]
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Exxon Mobil Corporation is reportedly participating in a pilot program that leverages excess natural gas to power crypto mining machines, according to a recent report quoting people familiar with the matter. The report states that the oil giant is partnered with the firm Crusoe Energy Systems, and the pilot is purportedly taking place in North Dakota at the Bakken shale basin. Unnamed Sources Say Exxon Is Piloting a Bitcoin Mining Operation in North Dakota Using Flare Gas On March 24, Bloomberg author Naureen S Malik reported that the largest American oil and gas corporation Exxon Mobil....
The oil and gas giant launched the pilot program in January 2021 and is now reportedly considering expanding it to Nigeria, Argentina, Guyana, and Germany. United States-based energy producer Exxon Mobil has reportedly been running a pilot program aimed at using the energy from excess gas to power crypto mining rigs — and it may be expanding its operations to four other countries.In a Thursday report, Bloomberg said Exxon Mobil had inked a deal with Crusoe Energy to use excess gas from oil wells in North Dakota to run Bitcoin (BTC) miners. The project reportedly uses 18 million cubic feet....
After a few months of experimenting with bitcoin payments for municipal services, the City Council of ‘Crypto Valley’ Zug in Switzerland announced that the pilot program will become a permanent fixture with possible plans to expand. Bitcoin Payments a ‘Worthwhile Experiment’. Early May this year, Zug City Council decided to place bitcoin payment system on a pilot program to test the feasibility of bitcoin payments for municipal services. At current, the program has been used only by a dozen customers, allowing them to make train ticket payments with bitcoin up to 200 Swiss Francs’ worth.....
BTC’s market cap is way smaller than gold's, but the percentage of Bitcoin held by institutional investors suggests that the current pricing reflects an excellent discount. Bitcoin's (BTC) price is down 56% year-to-date, but the correction was not strong enough to remove the digital asset from the list of top-20 global tradable assets. Bitcoin’s current $400 billion market capitalization stands higher than traditional companies like Exxon Mobil, Walmart and Procter & Gamble, but there’s always the question of whether a direct comparison between a commodity like Bitcoin and equities is....
The fourth-largest oil company in the world is now considering taking its gas-to-bitcoin pilot to four countries.