oil wells – DIGIT INFO

Crypto Farms Mining at Russian Oil Fields Reach 85 MW of Capacity, Analysts Say

DIGIT — Wed, 31 Aug 2022 06:30:00 +0000

Farms mining cryptocurrency at oil wells in Russia account for 85 megawatts (MW) of energy capacity, experts have estimated. Investors are considering projects for another 200 MW despite constraints stemming from Western sanctions, a report reveals. Annual Income From Crypto Mining With Associated Gas in Russia to Exceed One Billion Rubles Data centers mining cryptocurrencies […]

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Russian Oil Companies Propose to Mine Cryptocurrencies at Their Wells

DIGIT — Fri, 22 Oct 2021 06:30:28 +0000

Companies involved in oil production in Russia have come up with a project to organize the mining of cryptocurrencies right next to the oil fields they are exploiting. Data centers devoted to coin minting can be powered by the excess gas released during oil extraction which would otherwise be wasted. Ministries and Central Bank Review […]

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EZ Blockchain Partners With Texas-Based Oil Provider to Monetize Wasted Natural Gas With Bitcoin

DIGIT — Sun, 30 May 2021 18:00:38 +0000

While a number of media pundits and politicians have been talking about Bitcoin’s energy consumption, there’s been a myriad of firms working toward green solutions well before all the controversy. Unfortunately, critics don’t highlight the amount of renewables miners use or the cogeneration applications. One project called EZ Blockchain has partnered with the Texas-based oil […]

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Chicago Company Mines at Oil Wells, Educates Producers About Bitcoin

DIGIT — Sat, 07 Dec 2019 00:30:36 +0000

Utilizing stranded gas to power bitcoin mining rigs at oil and gas wells is a promising business opportunity. It is profitable for all participating parties and beneficial for the environment. Not without challenges, this young industry is growing in energy-rich North America. Several companies are working to expand the niche and U.S.-based EZ Blockchain shared […]

The post Chicago Company Mines at Oil Wells, Educates Producers About Bitcoin appeared first on Bitcoin News.

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Bitcoin Mining Helps Oil Companies Reduce Carbon Footprint

DIGIT — Fri, 19 Jul 2019 13:00:49 +0000

Natural gas acquired as a byproduct of oil extraction has become synonymous with wasted energy. In certain areas, drilling companies are unable to find a profitable market for the excess fuel. It’s often vented into the atmosphere. Startups are now offering on-site systems that utilize the surplus to mine cryptocurrencies. This new business is growing […]

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