Exxon Is Mining Bitcoin With Excess Gas: Report
The fourth-largest oil company in the world is now considering taking its gas-to-bitcoin pilot to four countries.The largest U.S. oil producer Exxon Mobil is considering expanding its North Dakota bitcoin mining pilot program to further reduce the volume of natural gas it routinely burns off or flares into the atmosphere, Bloomberg reported Thursday.People familiar with the matter told the news outlet that the oil giant has an agreement with Crusoe Energy Systems to redirect gas that would otherwise be wasted from an oil well pad to mobile bitcoin mines. The report said the pilot project....
Related News
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....
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 […]
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....
The firm Gazpromneft, an oil subsidiary of the Russian natural gas and global energy company Gazprom, is giving bitcoin mining operations the chance to power operations by using excess gas for electricity. The Russian firm has allowed a small mining operation to benefit from the excess gas by mining bitcoin on-site at the oil field. According to multiple reports, the Russian oil drilling subsidiary Gazpromneft is giving bitcoin miners the ability to utilize excess gas from oil drilling to mine the leading cryptocurrency. A small mining operation called Vekus was the first to leverage....
We had the opportunity to interview a senior Manager who works at Exxon for nearly 30 years.His name is Mr E. Joris and during his distinguished career at Exxon he developed many different; strategies and build up Exxon facilities all over the world. He is also a close family member of the writer of this article and thus has been introduced into the world of crypto. Mr Joris already bought some Bitcoins as well as some altcoins. Suffice to say he is very interested in the concept and the technology behind digital currency. So let’s see how the “big business” and corporations are looking at....