Russian Oil Giant Provides Excess Gas to Operations Powering Bitcoin Mining D...

Russian Oil Giant Provides Excess Gas to Operations Powering Bitcoin Mining D...

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....


Related News

Russian Crypto Mining Companies Are Expanding Capacity as the Country Becomes...

Crypto mining operations have been witnessing some changes within the industry in terms of locations. A recent interview with the CEO of the mining giant Bitriver, revealed that Russia is becoming a preferred hotspot for crypto miners. Russian Mining Giant to Build Two Additional Facilities to Cope With the High Demand According to Igor Runets, CEO and founder of the Russian mining company Bitriver, American and European investors are moving their infrastructure from China, Africa, and Latin America to Russia. The main reason behind the shifting move is the expensive costs of electricity....

Genesis Mining Is Converting Excess Bitcoin Datacenter Heat Into Greenhouse P...

One of the largest bitcoin mining operations in the world, Genesis Mining, has been working on an experiment with Systemair, Lulea Technical University, Research Institute of Sweden, and the local Boden municipality. The teams in Sweden are developing a system that converts excess heat from Genesis’s bitcoin mining to power greenhouse operations. Bitcoin mining is extremely competitive and the network consumes a lot of electricity to secure transactions and mint new coins. For instance, the Cambridge Bitcoin Electricity Consumption Index (CBECI) shows that the Bitcoin (BTC) hashrate....

Bitriver to Mine Crypto Using Excess Gas From Gazprom Neft’s Oil Extraction

Russian crypto mining operator Bitriver will use electricity generated from associated gas provided by Gazprom Neft to mint digital coins. As part of a new agreement, the mining company will in return develop the digital infrastructure at the oil producer’s wells in Russia. Crypto Mining Operator Bitriver to Cooperate With Russian Oil Giant Gazprom Neft Russia’s third largest oil producer, Gazprom Neft, will power data centers operated by the country’s leading crypto mining company, Bitriver. The electricity needed for the production of digital currencies will be....

Exxon Mobil is using excess natural gas to power crypto mining: Report

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....

Russian Oil Drilling Giant Opens a Crypto Mining Farm Run on Gas Energy

A unit of oil and gas giant Gazprom has opened a mining venue on an oil drilling site using gas produced as a byproduct to produce electricity.