Bitcoin Miners in US Bet on Flared Natural Gas as Energy Source Amid Environmental Concerns
Bitcoin mining requires masses of computers dedicated to solving complicated equations that globally consumes more electricity than entire nations. By Agence France-Presse | Updated: 17 May 2021 14:41 IST
Huge numbers of processors worldwide are dedicated to the task of mining Bitcoin
Highlights
Natural gas s edge is in the cost of power
Interest has grown in diverting flared gas to cryptocurrency mining
As the value of Bitcoin soars and concerns rise about the energy-intensive process needed to obtain it, cryptocurrency entrepreneurs in the United States believe they have found a solution in flared natural gas.
WASHINGTON: As the value of bitcoin soars and concerns rise about the energy-intensive process needed to obtain it, cryptocurrency entrepreneurs in the United States believe they have found a solution in flared natural gas.
As the value of bitcoin soars and concerns rise about the energy-intensive process needed to obtain it, cryptocurrency entrepreneurs in the US believe they have found a solution in flared natural gas.
Profitably creating, or mining, bitcoin and other cryptocurrencies requires masses of computers dedicated to solving deliberately complicated equations an endeavor that globally consumes more electricity than entire nations, but for which these start-ups say the jets of flaming gas placed next to oil wells are perfect power sources.
“I think the market is enormous,” said Sergii Gerasymovych, CEO of EZ Blockchain, which has six different data centers powered off