Exxon Mobil Is Using Excess Natural Gas For Crypto Mining

Exxon Mobil, a United States-based energy producer has reportedly been running a pilot program aimed at using the energy from excess gas to power BTC mining rigs. 

And it may be expanding its operations to four other countries.

According to report monitored by iexclusivenews on Bloomberg Thursday stated that Exxon Mobil had inked a deal with Crusoe Energy to use excess gas from oil wells in North Dakota to run Bitcoin miners.

The project is said to consume 18 million cubic feet of natural gas every month, or around 0.4% of the oil giant’s reported operations in the state, which produce 158 million cubic feet per day.

The trial program began in January 2021, and the company is now exploring expanding to Nigeria, Argentina, Guyana, and Germany.

As well as starting a comparable operation in Alaska, according to reports.

This online news outlet recall that oil and gas major ConocoPhillips last month, was selling excess gas to third-party Bitcoin miners for fuel.

Natural gas transportation necessitates pipes, which are not always capable of securely transporting the amount produced. Companies are frequently required to burn off excess gas or vent it into the atmosphere, putting the environment and economic margins at risk.

“It’s making use of what would have been wasted otherwise,” Danielle Fugere, president of environmental shareholder advocacy group As You Sow, said of the energy redirected to Bitcoin miners.

iexclusive News Nigeria reports that Crusoe Energy operated 60 data centers for crypto mining across four U.S. states as of September 2021.

Powered by “gas from the oil wells that would otherwise be flared on site.”

Instead of burning off the gas, diverting it to crypto mining reportedly reduces carbon dioxide-equivalent emissions “by as much as 63%.”

Though North Dakota’s Bakken shale basin is a key supplier of natural gas for the United States. Texas is home to many oil and gas corporations, as well as crypto mining companies.

Who see the state’s potential for energy production. In response to criticism citing environmental concerns. New York lawmakers have recommended stopping proof-of-work mining powered by fossil fuels.