Canadian gas companies are using trapped natural gas to fuel Bitcoin mining, instead of simply having it flared to the atmosphere.
Bitcoin mining is renowned for requiring a lot of resources, and with an increased price of the coins, mining is once again under the spotlight. Recently, gas companies in Alberta, Canada, figured out a way to use trapped natural gas to fuel Bitcoin mining, instead of just letting it dissipate out into the atmosphere and pollute the air.
In fact, according to recent reports, as much as 500 m3/day is being utilized for mining purposes, instead of being vented into the atmosphere.
Another Ohmm Mini installed in Saskatchewan.
— Steve Bearbour ⛏ (@SGBarbour) November 3, 2019
Bitcoin Mining, Rather Than Flaring
Bitcoin mining requires huge quantities of resources, which is seen by many as a problem that affects the environment. On the other hand, so does flaring trapped pockets of natural gas that is being released into the air in countries like Canada.
Now, thanks to a recent revelation that the country’s gas firms had had, all of this natural gas can be used for powering BTC mining farms. According to Bull Bitcoin’s Francis Pouliot, using the gas in this way solves a massive problem for gas well owners, thousands of which were struggling to contain these gas bursts or find a use case for them.
Today I visited an Alberta gas company that has been prototyping Bitcoin mining operations with trapped natural gas, too costly to sell onto the grid.