Exxon Mobil is now mining Bitcoin by burning excess natural gas

Exxon Mobil and Crusoe Energy Systems Inc. have partnered to use excess natural gas to power portable Bitcoin mining servers.

@AdamHuntTT
Published Sat, Mar 26 2022 2:54 AM CDT   |   Updated Thu, Apr 21 2022 11:42 AM CDT

Exxon Mobil has partnered with Crusoe Energy Systems Inc. to create a new cryptocurrency mining project powered by excess natural gas.

Exxon Mobil is now mining Bitcoin by burning excess natural gas 01 | TweakTown.com

A surplus of 18 million cubic feet of natural gas produced by Exxon Mobil per month is being used to power mobile Bitcoin mining servers. Exxon produces too much gas from shale oil to transport through its pipelines, so the company has sought to profit from the has that would otherwise be burned off without serving any purpose.

Cryptocurrency mining currently is relatively unfriendly to the environment, requiring significant amounts of power, mostly generated from fossil fuels, resulting in a large carbon footprint. This pilot project makes cryptocurrency mining slightly more environmentally friendly by not using excess fossil-fuel-derived power while natural gas continues to be wasted.

Exxon says that it is "continuously evaluate emerging technologies aimed at reducing flaring volumes across our operations." However, redirecting the gas volumes that would otherwise be burnt off to cryptocurrency mining is arguably less environmentally friendly than finding a way to reduce excess gas production in the first place.

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Adam grew up watching his dad play Turok 2 and Age of Empires on a PC in his computer room, and learned a love for video games through him. Adam was always working with computers, which helped build his natural affinity for working with them, leading to him building his own at 14, after taking apart and tinkering with other old computers and tech lying around. Adam has always been very interested in STEM subjects, and is always trying to learn more about the world and the way it works.

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