By 
The American multinational oil and gas corporation, ExxonMobil, is extending a pilot program that uses excess natural gas to run cryptocurrency mining to four countries.
Source: Bloomberg
BTCUSD is up +0.60%
ExxonMobil is reportedly planning to take the Bakken crypto pilot program to Alaska, Nigeria, Argentina, Guyana, and Germany.
The pilot, which began in 2021, uses about 18 million cubic feet of gas a month that would have been burned off due to inadequate pipelines.
The oil giant has partnered with Crusoe Energy Systems to use gas in a well pad in the Bakken Shale basin to run mobile generators that maintain bitcoin mining servers on-site.
Exxon Mobil representative, Sarah Nordin, says that the multinational is working on cutting down on flaring volumes in line with the World Bank’s objectives by 2030.
The news comes as cryptocurrency mining operators rush to use the excess energy from oil and gas companies, which are currently under pressure to reduce carbon emissions.
Comments