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Marcus Sotiriou, Analyst At a Listed Digital Asset Broker global block (TSXV:BLOK).
Bitcoin is hovering around $20,000, but Bitcoin mining is becoming more and more sustainable.reported about half a dozen Colorado-based gas and oil company We are teaming up with Bitcoin miners to implement a gas-to-bitcoin flare mitigation solution. This is after Colorado banned gas flaring, venting and releasing raw gas into the atmosphere in his November 2020.
The technology used is also reported to reduce methane by 99.8% compared to 93% for traditional flaring, and gas and oil companies have been rewarded with significant amounts of bitcoin. increase.
In addition, Russian crypto farm It is supplied with electricity generated by small power plants burning associated petroleum gas (APG). APG is a by-product of black gold extraction. This costs nothing to the oil companies as they need to dispose of the APG anyway, but they can now make additional income from the APG.
The ability of oil and gas companies to power bitcoin miners with a by-product of their operations, thus generating more revenue while benefiting the environment, is a huge advantage for bitcoin’s future.
